![]() ![]() $2.42: FTT token price on Nov.Smith’s most important indirect reference lies in his example of how the market provides for even the most humble labourer. Undetermined: Crypto market maker Wintermute said it had “remaining funds on FTX, and while this is not ideal, the amount is within our risk tolerances and does not have a significant impact on our overall financial position.” It did not quantify how much was stuck “It does not pose a threat to our business operations or liquidity,” the market maker said <10%: Crypto trading firm Amber Group’s stuck assets on the FTX exchange. Multicoin says it has a trading relationship with FTX, along with other exchanges 9ġ0%: assets under venture fund Multicoin Capital’s management that were affected. ![]() Of this amount, $47.5 million is currently in the withdrawal process, the company said in its latest quarterly earnings call on Nov. $76.8 million: Blockchain financial services firm Galaxy Digital’s exposure of cash and digital assets to FTX. It only has a trading relationship with FTX, amongst other exchanges Genesis said it has no material exposure to FTT or any other tokens issued by centralized exchanges nor does it have a lending relationship with FTX. $7 million: loss reported by traditional trading firm Genesis after it “hedged and sold collateral” amid market volatility. $1 billion: revenue FTX posted in 2021 when Sequoia invested Each of the investments represented low-single digit shares of the funds $213.5 million: Sequoia’s investment in FTX.com and FTX.us-$150 million via its Global Growth III fund and $63.5 million its SCGE Fund. Story continues Investors’ exposure to FTX, by the digits 9), Bankman-Fried said FTX is teetering between finding cash infusion or declaring bankruptcy, Wall Street Journal reported. To name a few, there’s BlackRock, Ontario Teachers’ Pension Plan Board, and the troubled Tiger Global, which has already seen over half of its fund’s value erode in the last year. Sequoia, which had called SBF a “legend” and justified his “savior complex” in a blog post just a couple of months ago, is one in a long list of marquee backers in the controversial cryptocurrency. “Some investments will surprise to the upside, and some will surprise to the downside.” “We are in the business of taking risk,” Sequoia wrote in its message to investors. Some investors have also come to admit their FTX bet failed. □After hours of due diligence, Binance took a U-turn and bowed out of the purchase, saying the problems are “beyond our control or ability to help.” Binance extended a rope and said it would buy the ailing company. □ FTX’s billionaire founder Samuel Bankman-Fried, also known as SBF, went knocking for help-specifically on Zhao’s door. □ The chief of the largest cryptocurrency exchange Binance, Changpeng Zhao, poked holes in rival FTX’s credibility, offloaded half a billion dollars worth of FTX’s native tokens FTT, and sparked several sales that pushed prices down and created a liquidity crunch. Here’s a real quick summary of what went down: The venture capital firm’s decision comes after a roller-coaster ride questioning the fate-read: solvency-of the world’s third-largest cryptocurrency exchange.ģ ways to reduce invisible labor for women at workģ6 ways to build a family-friendly culture Sequoia Capital wrote down the full value of its holdings in FTX, the venture capital firm said in a note to investors, shared on Twitter in the evening of Nov. Private equity firms caught in the crossfire of the crypto exchange wars have started throwing their hands up. ![]()
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