FalconX, the crypto prime broker, told clients that its financial health is strong despite the exposure it had to FTX.
Balances locked on the collapsed exchange represented 18% of unencumbered cash equivalents.
"FalconX balances locked on FTX represented 18% of our unencumbered cash equivalents," the company said in an email sent yesterday to clients obtained by The Block."This ratio was within our counterparty exposure limits." FalconX said it has no exposure to FTX's sister hedge fund Alameda Research, trading firm Genesis or crypto lender BlockFi.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Dogecoin surges, and how the FTX scandal could affect Wall Street crypto adoption: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Crypto World speaks to Wall Street executives who made the jump to crypto to learn how they're weathering the latest downturn.
Read more »
Taylor Swift had a $100M FTX sponsorship deal fall apart prior to its bankruptcy: ReportFTX was reportedly in the late stages of negotiating a sponsorship deal with Taylor Swift months before its liquidity crisis and bankruptcy.
Read more »
Sam Bankman-Fried wanted FTX to sponsor Taylor Swift tour for $100 millionSam Bankman-Fried is reportedly such a huge Taylor Swift fan that he pushed for FTX to sponsor her tour in a $100 million deal that almost happened
Read more »
Was the fall of FTX really crypto’s ‘Lehman moment?’It isn’t entirely clear what is even meant by a “Lehman moment.” Does it refer to a sudden financial collapse? A bankruptcy that sets off a domino effect — until the global economy is shaken?
Read more »
Institutional investors still eye crypto despite FTX collapseOn-chain analyst Willy Woo said that traditional finance capital allocators see the FTX collapse as an entry opportunity.
Read more »
Rep. Torres asks US GAO to investigate SEC ‘failure’ to protect public against FTXRep. Ritchie Torres has asked the U.S. Government Accountability Office (GAO) to investigate the Securities and Exchange Commission’s handling of FTX’s bankruptcy.
Read more »