Canadian Regulators Probing Crypto Lender Celsius Network Alongside US: Report

Aug 10,2022
KingData News: Canadian regulators are working in tandem with their U.S. counterparts to investigate the impact of New Jersey-based crypto lender Celsius Network’s multibillion-dollar collapse, according to a Financial Post article. The Ontario Securities Commission (OSC) is also investigating how Celsius' collapse and subsequent bankruptcy has affected the platform’s Canadian users.
On June 13, digital asset lending platform Celsius Network announced that it would suspend all withdrawals, swaps and transfers between accounts due to extreme market conditions. On the same day, Etherscan data showed that Celsius transferred a total of approximately 111,815 ETH to FTX over the last three days. This indicator provides a real-time tracking of Celsius' funding crisis.
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