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