How To Buy Crypto On Voyager

LONDON (Reuters) – After major crypto commutation FTX filed for U.S. bankruptcy protection on Fri, the crypto industry is bracing for farther fallout.

Some of FTX’s investors accept said they are writing their investment downwards to nada.

Other crypto firms may be exposed to FTX past having held tokens on the exchange or by owning FTX’s native token, FTT, which plunged effectually 94% concluding week.

While the extent of the contagion across crypto markets remains unclear, here are some firms who have given information nearly their exposure to FTX.

BINANCE

Binance Primary Executive Changpeng Zhao sparked concerns among investors on Nov. six when he said in a tweet that Binance would sell its holdings of FTT.

Zhao told a Twitter spaces event on Monday that Binance had previously held $580 one thousand thousand worth of FTT, of which “nosotros simply sold quite a small portion, nosotros still concord a large bag”.

BLOCKFI

Embattled cryptocurrency lender BlockFi said it had significant exposure to FTX and that withdrawals from its platform continue to be paused.

“We do have pregnant exposure to FTX and associated corporate entities that encompasses obligations owed to u.s.a. by Alameda, assets held at FTX.com, and undrawn amounts from our credit line with FTX.US,” BlockFi said.

In July, FTX had signed a deal with the troubled crypto lender to provide it with a $400 million revolving credit facility with an option to buy it for upward to $240 million.

CELSIUS NETWORK

Bankrupt crypto lender Celsius Network said in a tweet on Nov. 11 that it had 3.v meg Serum tokens (SRM) on FTX as well as around $xiii meg in loans to FTX-linked trading company Alameda Research. The loans were nether-collateralised, mostly by FTT tokens, Celsius said.

COINBASE

Coinbase Global Inc said in a blog post on Nov. 8 that it had $15 million worth of deposits on FTX. It said information technology had no exposure to FTT, no exposure to Alameda Research, and no loans to FTX.

It said it had $v billion in cash and cash equivalents at the terminate of Q3.

COINSHARES

Crypto asset manager CoinShares has $30.three million worth of exposure to crypto exchange FTX, CoinShares said in a statement on Nov. 10.

CoinShares CEO Jean-Marie Mognetti said that the grouping’s financial health remains “strong”, adding that its net asset value at the end of Q3 was 240.half dozen million pounds ($282.51 million).

CRYPTO.COM

Singapore-based crypto exchange Crypto.com said on Nov. 14 it had moved nearly $one billion to FTX over the course of a year, but nearly of it was recovered and exposure at the time of FTX’s collapse was less than $10 million.

CEO Kris Marszalek said the firm would prove all naysayers wrong on the platform being in trouble, and that it has a robust balance sheet and took no risks.

Galaxy DIGITAL

Crypto financial services company Galaxy Digital Holdings Ltd said in its tertiary-quarter earnings argument on Nov. 9 – the day subsequently FTX froze withdrawals – that it had a $76.8 million worth of exposure to FTX, of which $47.5 million was “in the withdrawal procedure”.

In the earnings call, Novogratz said Galaxy had more than $one billion in cash and $1.5 billion in liquidity.

GALOIS Capital letter

Hedge fund Galois Capital had one-half its assets trapped on FTX, co-founder Kevin Zhou told investors in a recent letter, the Financial Times reported, estimating the amount to exist around $100 one thousand thousand.

Galois did not respond to Reuters comment requests sent via email and its website.

GENESIS

U.S. cryptocurrency broker Genesis Trading’southward derivatives business organization has approximately $175 million in locked funds on FTX, the visitor said in a tweet on Nov. 10.

“Genesis has no cloth exposure to FTT or any other tokens issued past centralized exchanges,” the firm said in a tweet on Nov. 9.

KRAKEN

Cryptocurrency exchange Kraken said on Nov. x that it held near 9,000 FTT tokens on the FTX substitution and was not afflicted “in any textile manner”.

Kraken also said on Sunday information technology had frozen the accounts of FTX, Alameda Research and their executives.

SILVERGATE Uppercase CORP

Silvergate Capital Corporation said on Friday FTX represented less than 10% of $eleven.nine billion deposits from all digital asset customers as of Sept. xxx.

The fiscal solutions provider to digital avails likewise said Silvergate has no outstanding loans or investments in FTX, and FTX is non a custodian for Silvergate’s bitcoin-collateralized Silvergate Exchange Network (SEN) leverage loans.

VOYAGER DIGITAL

FTX won crypto lender Voyager Digital’s assets in a $one.42-billion bid at an auction in September months afterwards the lender spurned an earlier proposal and called it a “depression-ball bid dressed upwardly as a white knight rescue”.

Voyager said on Nov. xi it had reopened the bidding process for the company and maintained a balance of approximately $3 one thousand thousand at FTX when the embattled crypto commutation filed for protection from creditors.

($1 = 0.8516 pounds)

(Reporting by Elizabeth Howcroft in London and Mehnaz Yasmin and Medha Singh in Bengaluru; Editing by Jan Harvey and Anil D’Silva)