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News

Sino Global Capital Speaks Out About FTX Exposure

November 15, 2022 - Around 2 mins mins to read
Sino Global Capital, a Chinese cryptocurrency venture capital firm, discussed its exposure to FTX.
Sino Global Capital Speaks Out About FTX Exposure

In a message posted on Twitter on November 15, the corporation claimed that its direct exposure to FTX, the exchange, was constrained to mid-seven figures held in custody. It did not give a precise amount. The letter further said that the company is still in business and is still funding new businesses.

In October of last year, Sino made its first fund accessible to outside investors. It is well known that the company is a significant funder of FTX and FTX-adjacent initiatives like Solana and Serum. The letter said:

“Like many of you, we trusted FTX to be a good actor committed to pushing the industry forward. We deeply regret that misplaced trust.”

FTX is known as the anchor investor in Sino’s first external fund. Currently, the exchange is “in the sights” of government organizations along with the SEC, and CFTC.

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

Alameda

CFTC

FTT

FTX

SEC

Serum

Sino

Solana

Author

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.
News

Sino Global Capital Speaks Out About FTX Exposure

Sino Global Capital, a Chinese cryptocurrency venture capital firm, discussed its exposure to FTX.
Sino Global Capital Speaks Out About FTX Exposure

In a message posted on Twitter on November 15, the corporation claimed that its direct exposure to FTX, the exchange, was constrained to mid-seven figures held in custody. It did not give a precise amount. The letter further said that the company is still in business and is still funding new businesses.

In October of last year, Sino made its first fund accessible to outside investors. It is well known that the company is a significant funder of FTX and FTX-adjacent initiatives like Solana and Serum. The letter said:

“Like many of you, we trusted FTX to be a good actor committed to pushing the industry forward. We deeply regret that misplaced trust.”

FTX is known as the anchor investor in Sino’s first external fund. Currently, the exchange is “in the sights” of government organizations along with the SEC, and CFTC.

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