Star Atlas Founder: There is risk exposure in FTX, cash will be reduced by half

ChainCatcher news, based on Solana's game metaverse Star Atlas, founder Michael Wagner published an open letter stating that the project has "significant cash risk" in its deposits with FTX, and that the project's cash will be halved after FTX files for bankruptcy reorganization.

"I believe this liquid cash position is held by a reliable and trustworthy institution. I place my confidence and trust in someone I consider a pillar of the industry," Michael Wagner said. "Clearly, that trust has been betrayed. Poor timing, along with the failure to take adequate backup measures to respond quickly to such situations, has led to the situation being compromised. That is my responsibility, and for that, I am sorry." (source link)