FTX bankruptcy leaves millions of frozen assets

The fall of the cryptocurrency exchange caused many companies in the world of cryptocurrencies to have millions of assets frozen

The fall of the FTX cryptocurrency exchange continues to cause noise in the world, it was recently learned that a significant number of companies have their assets frozen, valued at millions of dollars.

Conglomerates such as Galois Capital reported that they had about 50 million dollars in cryptocurrencies that were stuck inside the exchange. Like this one, New Hou Technology is in a similar situation with 18.1 million.

Nigerian Web3 startup Nestcoin also announced that it was unable to withdraw the funds from FTX, and company CEO Yele Bademosi posted on Twitter on Nov. 14 a letter that he had previously shared with investors.

FTX said last week that around 130 companies in its FTX Group, including its US entity FTX.US and sister trading firm Alameda Research, have filed for bankruptcy in the US after FTX suffered a liquidity crisis. and could not process user withdrawals, leaving its clients without access to their funds held on the exchange.

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Source: Cointelegraph

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