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00:00We had another major crypto company declare bankruptcy. That company was Celsius. Now,
00:05if you've never heard of them, Celsius is a pretty big player in the crypto space. As of May this
00:09year, they reported their AUM, or assets under management, as roughly $12 billion. As of June,
00:15they reported 1.7 million customers. And last year, they raised $750 million in their Series B
00:21funding, valuing their company at $3.25 billion. But that's not the crazy part. The crazy part is
00:27that one of the entities that gave them money was Canada's Caisse des Ponds et Placement de Quebec.
00:33I probably mispronounced that. But that is Canada's second largest pension fund, which is unfortunate
00:38because a lot of Canadian retirees could potentially get hurt because that pension fund was investing
00:43in Celsius. Because this week, they declared Chapter 11 bankruptcy. If you look at their
00:48bankruptcy report, you could see they have over 100,000 creditors, which are all the people they
00:53owe money to.
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