FTX Victim, Auros Global, Guaranteed New $17 Million Investment
Key Points:
- Cryptocurrency company Auros Global receives a massive $17 million investment following the FTX crisis.
- The investment came from trading firm TRADIVI Vivienne Court and leading bitcoin mining company Bit Digital.
- It previously lost $20 million in the FTX explosion. But recently, the British Virgin Island court has announced the release of Auros from temporary liquidation following a significant debt restructuring.
Auros Global chief investment officer Benjamin Roth revealed that he had weathered the FTX crisis and received a massive $17 million investment, according to Coindesk.
In a recent statement by the Chief Investment Officer of Auros, the company overcame the liquidity crisis after falling victim. It was stuck at $20 million on FTX due to its sudden collapse at the end of November 2022.
As updated in the previous post, after the collapse of FTX, the company was approved by the British Virgin Islands court in December, and Auros moved into a temporary liquidation phase.
Auros was released from temporary court-supervised liquidation last week after restructuring massive debt and securing $17 million in new investment by the high-frequency trading company. President Vivienne Court Trading and public bitcoin mining company Bit Digital (BTBT) lead the way.
M11 Credit, the principal creditor of Auros Global, a crypto trading firm affected by the bankruptcy of FTX, said in a statement Wednesday that the company has resolved to restructure the deal lending with Maple Finance.
Auros has repaid 55% of the outstanding debt to the lending group, the statement said. Another 40% of debt is reissued at an annual rate of 8.64% over three 90-day cycles, with maturities of up to nine months. The remainder of the loan is repaid interest-free within 90 days.
After the FTX boom and as market participants feared a full-blown insolvency crisis for cryptocurrencies, lenders raced to collect outstanding debts to reduce and minimize potential losses. With a significant amount of money locked up on FTX, Auros faced a sudden lack of liquidity to repay all of its desperate creditors.
But thankfully, the company has now been able to pull through. Roth said the company is leaving the FTX shock behind.
“We’re the same company that we were pre-FTX,”
He said
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
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FTX Victim, Auros Global, Guaranteed New $17 Million Investment
Key Points:
- Cryptocurrency company Auros Global receives a massive $17 million investment following the FTX crisis.
- The investment came from trading firm TRADIVI Vivienne Court and leading bitcoin mining company Bit Digital.
- It previously lost $20 million in the FTX explosion. But recently, the British Virgin Island court has announced the release of Auros from temporary liquidation following a significant debt restructuring.
Auros Global chief investment officer Benjamin Roth revealed that he had weathered the FTX crisis and received a massive $17 million investment, according to Coindesk.
In a recent statement by the Chief Investment Officer of Auros, the company overcame the liquidity crisis after falling victim. It was stuck at $20 million on FTX due to its sudden collapse at the end of November 2022.
As updated in the previous post, after the collapse of FTX, the company was approved by the British Virgin Islands court in December, and Auros moved into a temporary liquidation phase.
Auros was released from temporary court-supervised liquidation last week after restructuring massive debt and securing $17 million in new investment by the high-frequency trading company. President Vivienne Court Trading and public bitcoin mining company Bit Digital (BTBT) lead the way.
M11 Credit, the principal creditor of Auros Global, a crypto trading firm affected by the bankruptcy of FTX, said in a statement Wednesday that the company has resolved to restructure the deal lending with Maple Finance.
Auros has repaid 55% of the outstanding debt to the lending group, the statement said. Another 40% of debt is reissued at an annual rate of 8.64% over three 90-day cycles, with maturities of up to nine months. The remainder of the loan is repaid interest-free within 90 days.
After the FTX boom and as market participants feared a full-blown insolvency crisis for cryptocurrencies, lenders raced to collect outstanding debts to reduce and minimize potential losses. With a significant amount of money locked up on FTX, Auros faced a sudden lack of liquidity to repay all of its desperate creditors.
But thankfully, the company has now been able to pull through. Roth said the company is leaving the FTX shock behind.
“We’re the same company that we were pre-FTX,”
He said
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
Foxy
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