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DLocal Announces $5.6 Million Stuck In FTX

According to a filing from the Uruguayan payments unicorn DLocal, the company has $5.6 million invested in FTX.

DLocal Announces $5.6 Million Stuck In FTX 2

The company said in its third-quarter earnings report earlier this week that it did not expose crypto exchanges as banking services at this time following the collapse of FTX.

According to the filing, DLocal used FTX’s banking services and had deposits of $5.6 million, whose withdrawals were not processed by FTX yet.

“In early November 2022, the Company utilized FTX Trading Ltd. (“FTX”) banking services and had deposits of USD 5.6 million whose withdrawals were not processed by FTX yet. On November 11, 2022, FTX filed for Chapter 11 bankruptcy in the United States. dLocal´s management is closely monitoring this situation and assessing the recoverability of this cash position.”

DLocal is one of the companies affected by the collapse of FTX, recently, Genesis Trading has stopped its services for reasons indirectly related to this exchange.

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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.