CoinShares Reports Over $30 Million Worth of Crypto Stuck on FTX

Europe’s largest digital asset investment and trading group – CoinShares – revealed that approximately 11% of its total net asset value is situated on the crypto exchange FTX. Another firm experiencing similar issues is Mike Novogratz’s Galaxy Digital, which holds more than $76 million worth of exposure to the troubled firm.

The company’s CEO – Jean-Marie Mognetti – stated the assets were part of the capital markets division and accounted for proprietary trading operations. The boss added that potential losses had not affected CoinShares’ exchange-traded funds. The organization also has no exposure to FTX’s sister company Alameda Research. The problems for SBF’s trading venue started a few days ago when Binance decided to liquidate all its FTT tokens.

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