News

Crypto Market Maker GSR Claims “Manageable Exposure” To FTX

Crypto companies have spoken out about their exposure to the collapsing cryptocurrency exchange FTX. Additionally, GSR informed staff members today that the company has “manageable exposure” to FTX and no exposure to Alameda Research.
Crypto Market Maker GSR Claims "Manageable Exposure" To FTX 2

GSR CEO Jakob Palmstierna share his email to company staff:

He added that the company’s exposure to FTX is constrained to a single-digit portion of the company’s cash balance. According to Palmstierna, the company will cover all client losses on FTX but will no longer trade on Huobi.

Rival exchange Binance stated it would purchase FTX. The agreement with Binance, however, failed on Wednesday. Sam Bankman-Fried, the CEO of FTX, stated earlier today that the company would look to wind down Alameda. According to Reuters, SBF and Justin Sun are negotiating to raise money the following week.

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

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.

Recent Posts

Will Bitcoin Crash or Soar Past $105K in 2024?

Will Bitcoin Crash?" seems to be one of the most controversial questions, as the price…

2 minutes ago

The Best Crypto for Passive Income? 10% Weekly Gains and 20% Final Surge—Qubetics Mirrors Cosmos’ Early Success!

There’s always that one coin people wish they hadn’t overlooked. For many, Cosmos ($ATOM) is…

30 minutes ago

Cosmos Developer Interchain Foundation Sold 3000 ETH Today

Cosmos Developer Interchain Foundation sold 3000 ETH from its ICO today, totaling 21,600 ETH sold…

1 hour ago

Zircuit Launches ZRC Token: Pioneering the Next Era of Decentralized Finance

George Town, Grand Cayman, 22nd November 2024, Chainwire

2 hours ago

Inflation Warning By Vanguard Amid Tariffs And Labor Issues

Inflation Warning by Vanguard highlights risks during Trump’s term, citing tariffs and tighter labor markets…

2 hours ago

Clanker Token Trading Volume Hits $59.8 Million High On November 21

Clanker token trading volume hit $59.8M on Nov 21, accounting for 14.75% of PumpFun. Fee…

2 hours ago

This website uses cookies.