Tag: 750M

Celsius Network Series B Expands to $750M

Celsius Network’s Series B was expanded to $750 million, up from $400 million at a $3.25 billion valuation announced October. The news was first reported by Blockworks late on Nov. 24. The crypto lender’s CEO Alex Mashinsky and official account both tweeted the story, while the Celsius team confirmed the story to CryptoX in a message. Celsius closed a $400 million Series B in October led by growth equity firm WestCap, and Caisse de dépôt et placement du Québec (CDPQ), bringing its valuation…

Celsius expands funding round to $750M, tips $7B to $10B valuation in 2022

Crypto lending firm Celsius Network has expanded its $400 million Series B round from October to $750 million as a result of oversubscription in the firm’s capital raise. The company is now valued at $3.5 billion following the raise and CEO Alex Mashinsky told Cointelegraph he expects that figure to “double or triple” next year which would see it valued between $7B and $10.5B The firm previously closed the round on Oct. 12 amid a period of intense scrutiny placed on crypto lending firms from local regulators. Celsius CEO Alex…

Crypto.com expands insurance program to cover $750M

Digital currency exchange Crypto.com has expanded its insurance policy to cover up to $750 million worth of digital assets, offering an additional layer of protection for the platform’s ten million users.  The new policy, effective since Sept. 6, is backed by Arch Underwriting, a division with Lloyd’s Syndicate 12, the company announced Monday. The policy, which includes both direct and indirect custodian coverage, applies to Crypto.com’s cold storage assets held on Ledger Vault. The policy is one of the largest in the cryptocurrency industry, exceeding the over $700 million coverage…

UK investment manager sells off half BTC holdings after $750M win

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United Kingdom-based Ruffer Investment Management has made more than $750 million from its Bitcoin investment in less than two months, but it has decreased the size of its holdings. According to a report from British news outlet The Telegraph, Ruffer saw “immediate fireworks” after investing roughly 2.5% of its assets into Bitcoin (BTC) in November 2020, resulting in millions of dollars in gains as the price of the crypto asset rose past $20,000 and on to a new all-time high of more than $42,000 in January. Rather than HODLing it…

Ruffer Turns Bitcoin Investment into $750M Profit in Under 2 Months

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U.K.-based Ruffer Investment Management has managed to quickly turn its recent bitcoin investment into a $750 million profit. Having bought in November, Ruffer’s investment managers took profits in December and January as the cryptocurrency more than doubled to around $40,000, according to a Telegraph Money report Tuesday. “We’ve been surprised by how well it has done and how quickly. We did not expect immediate fireworks,” Duncan MacInnes, co-manager of Ruffer Investment told the newspaper. MacInnes said the 2.5% allocation was made across all Ruffer’s funds, costing around $600 million. As…

Scary Bitcoin volatility? $750M in BTC options set to expire for Halloween

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A big Bitcoin (BTC) volatility spike could occur by the month’s end as two major factors come into play. The BTC options market nears a massive $750 million expiration and the CME futures market’s open interest has also soared. When an options expiry nears, holders of options contracts have to adjust their contracts before or right after the expiration. Often times, that could cause volatility in the price of Bitcoin. Options open interest. Source: Skew Monthly close, options expiry, and CME expiration all coincide It is difficult to gauge the…