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.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Harold
CoinCu News
Author
News
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.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Harold
CoinCu News
Other Posts
Related Posts
News
LayerZero Sybil Detection Report Is Being Conducted With Chaos Labs And Nansen
News
Australian Taxation Office Demands Crypto Exchanges Surrender Data of 1.2M Users!
News
Franklin Bitcoin ETF Trading Rules Proposed Changes By CBOE To Better Support Investors
News
90% Of Stablecoin Transaction Volumes Have No Participation From Real Users
News
Address Error Results in $68 Million WBTC Loss, Victim Falls to Phishing Scam
Knowledge
