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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.

CoinShares Total Exposure To FTX Amounts To $30.3 Million 2

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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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.