CoinShares Total Exposure To FTX Amounts To $30.3 Million
CoinShares discloses its exposure to the FTX exchange while confirming that the company has no exposure to FTX’s sister company, Alameda Research.
A $30.3 million holding that CoinShares disclosed is currently stuck on the troubled FTX cryptocurrency exchange. This is approximately equal to 11% of its net asset value, which as of September, was £240.6 million.
CoinShares CEO Jean Marie Mognetti said:
“In light of the high level of public scrutiny over the financial position of FTX and in the spirit of transparency, we have decided to disclose our current exposure to FTX. Thanks to our prudent approach to risk, we had materially reduced our exposure to FTX exchange in response to increased volatility and uncertainty, ahead of FTX’s decision to freeze further withdrawals.”
The aftermath of the FTX crisis has led crypto companies to be cautious, forcing them to publish information to ensure trust among users. Specifically, BitMEX, Deribit, Kraken have confirmed no exposure to the FTX crisis.
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