Quebec's largest pension fund had $150 million invested in bankrupt crypto lender; Celsius.
The Canadian regulators are working alongside their counterparts in the US as multiple jurisdictions investigate the multi-billion-dollar collapse of cryptocurrency lender Celsius Network LLC.
The Ontario Securities Commission has a similar interest in whether the Celsius collapse affected Canadians and, sources say, there were clients in Ontario.
Celsius was not registered with provincial securities regulators in Canada, and Canadian regulators are understood to be collaborating with the U.S. Securities and Exchange Commission (SEC), as they often do on matters that span the Canada-U.S. border.
The SEC is also working with regulators in several states, including Texas, according to one source. In mid-June, Reuters reported that state securities regulators in Texas, Alabama, Kentucky, New Jersey and Washington all began investigating Celsius Network shortly after the crypto lender suspended customer redemptions. Joseph Rotunda, enforcement director at the Texas State Securities Board, told Reuters at the time that his state’s investigation was a “priority,” and he has subsequently posted public appeals on LinkedIn encouraging Celsius clients in Texas and other states to come forward.