Firms With Presence in FTX Emerged: Will Risk Grow?

Firms With Presence in FTX Emerged: Will Risk Grow?

Web3 researcher FinanceYF3 has created a chart showing the investments of recently bankrupt FTX. To the graph of FinanceYF3 by more than 15 companies FTX It had more than $2.7 billion in equity in its stock market.

The investment of Bred Ape Yach Club (BAYC), Polygon’s more than 50 million dollars, drew attention in the table.

Firms With Presence in FTX Emerged: Will Risk Grow?

According to the chart in question, there are companies such as Genesis Digital Assets, Anthropic, Pionic, Mysten Labs, Voyager Digital. Names such as SkyBridge, Kraken, NEAR (linked to Alameda), 1Inch, lido also drew attention, albeit at a lower value.

In a report shared by the Financial Times, he stated that the package consisting of approximately 500 illiquid investments in the FTX exchange was divided into 10 holding companies with a total value of more than $ 5.4 billion.

Sam Bankman-Fried, former CEO of FTX, claimed in an interview with the New York Times (NYT) that the company collapsed due to its size.

“This has happened because risk management has been largely neglected and has failed. I did not voluntarily mix the funds. The company has grown so much and we haven’t created enough oversight.”

Binance CEO Changpeng Zhao On the other hand, he thinks that it is a better decision for the SBF to remain silent. In a tweet he shared, Zhao openly described SBF as a fraudster, stating that he was a manipulator.

“One tweet alone cannot destroy a healthy business. FTX has finished itself and its users. The reason is simple, they stole billions of dollars in funds.”

In an interview with NYT Sam Bankman-FriedHe said that FTX.US is still solvable and withdrawals could begin soon.

You can follow the current price action here.

Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.

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