Insiders: Multicoin's fund assets have decreased by 55% due to the FTX bankruptcy event
ChainCatcher news, Blockworks cites three informed sources reporting that due to the FTX bankruptcy event, Multicoin's asset scale has dropped by 55% in about two weeks. This loss is in addition to the approximately 10% of its fund assets that were reported by The Block to be frozen on FTX.
According to sources, the losses were also due to its long-term bullish stance on Solana and the Solana ecosystem project Mango, holding equity in FTX.US, and unfinished derivatives contracts.
In addition, Multicoin has no plans to close its flagship products or switch to proprietary trading, and is also introducing improvements in operations and infrastructure, including efforts to reduce counterparty risk, etc. (source link)
ChainCatcher reminds readers to view blockchain rationally, enhance risk awareness, and be cautious of various virtual token issuances and speculations. All content on this site is solely market information or related party opinions, and does not constitute any form of investment advice. If you find sensitive information in the content, please click "Report", and we will handle it promptly.
