Canadian financial regulators, including Quebec’s Autorité des marchés financiers (AMF), are probing Celsius Network's massive collapse as the notorious platform was funded by Quebec's pension manager, the Caisse de dépôt et placement du Québec.
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The Financial Post reports, citing sources close to the matter, that the watchdogs want to find out how many Canadian investors backed Celsius. Besides Quebec, the Ontario Securities Commission is reportedly also investigating the crypto lending platform for the same reasons.
Even though Celsius was not registered in Canada and had no right to offer services in the country, the probes might be complicated due to the fact that the firm earlier filed for bankruptcy and is seeking restructuring options.
As iHodl reported, the collapse of Celsius Network blocked $150 million of investments made by the Canadian pension manager in October 2021, when Celsius' valuation reached $3 billion. A spokesperson for the manager, Maxime Chagnon, acknowledged that the decision to back Celsius "raises a number of questions."
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