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 2

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

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

Bitcoin Spot ETF Outflows Reach Second Highest in History

Bitcoin Spot ETF Outflows hit $541M on November 4, the second-highest single-day outflow in history.…

1 hour ago

PropiChain’s Token Presale Turns Heads as the First DeFi Platform to Merge NFTs with AI 

The hype around PropiChain’s token presale is due to its innovative integration of NFTs and…

4 hours ago

UK Pension Fund Cartwright Encourages 3% Allocation to Bitcoin Investment

UK pension fund Cartwright advised the country's first defined benefit pension fund to allocate 3%…

6 hours ago

Crypto PAC Fairshake Continues to Boost 2026 Election With Support from a16z

a16z and Coinbase have pledged substantial funds to crypto PAC Fairshake, aiming to support crypto-friendly…

7 hours ago

Bitcoin, Ethereum, And Solana Lead Crypto Market, But Not For Long With New AI Altcoin With 30,000% Potential, Expert Says

Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) dominate the crypto market, but experts warn that…

10 hours ago

Dogecoin Price Prediction: Will DOGE Ever Hit $0.7 Again? Why ETFSwap (ETFS) Is The Best Alternative For 100x Gains

Discover the future as the Dogecoin price aims for a $0.7 comeback and discover why…

13 hours ago

This website uses cookies.