Crypto exchange Digital Surge came out of the FTX collapse in one piece!

Crypto exchange Digital Surge came out of the FTX collapse in one piece!

The collapse of the bankrupt crypto exchange FTX has deeply affected the entire crypto industry. FTX Fraud and breaches of the law, involving its subsidiary, Alameda Resaerch, have hurt many investors. Likewise, many of the crypto- The company also went bankrupt as a result of liquidity problems. The companies that can be shown as examples of these companies are Genesis and BlockFi. Some companies are still making great efforts to recover.

However, there is a crypto exchange that has managed to survive with very little loss in the whole process. This company is based in Australia. Digital Surge was the stock market.

Cryptocurrency exchange Digital Surge escaped FTX crash

Digital SurgeDespite having millions of dollars’ worth of assets in FTX, it survived the battlefield. The company is refunding 22,545 customers whose assets have been frozen since November 16, 2022.

In addition, the company has announced a recovery plan to continue its operations. The stock market shared this plan with its customers via e-mail.

As part of the recovery plan shared with users on December 8, 2022, the exchange will receive a loan of $884,543 million. With this amount Digital Surgewill start working in order to continue its activities.

According to a report from Business News Australia Digital Surgerefunds both according to customers’ request cryptocurrency both the unit fiat money unit will do.

Digital Surge also became a survivor of FTX

based in Australia Digital Surgestarted its activities in 1027. However, Digital Surge, like all companies, was affected by the FTX collapse. The exchange froze withdrawals and deposits just days after FTX filed for bankruptcy.

At that time, the company FTXannounced that they invested indirectly in . This amount was a very small amount compared to other crypto companies. Digital Surgereported that they have investments of only $23.4 million in FTX.

On the other hand, the exchange has had several assets stuck in FTX, which has come up with a solid plan to restart its operations and avoid liquidation. crypto- only one company.

Since November 2022, crypto lending companies Genesis and BlockFi Many crypto companies, in particular, had to file for bankruptcy under Article 11.

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