Celsius, Voyager Present FTX Exposure

Celsius, Voyager Present FTX Exposure

Key Takeaways

  • Celsius acknowledged on the original time that it has $1.3 million locked with FTX and $13 million of loans to Alameda Analysis.
  • Voyager also acknowledged that it has $3 million locked with FTX nonetheless recalled its loans from Alameda earlier.
  • Voyager will also re-auction resources that FTX efficiently show upon all the intention in which via its acquire monetary waste direction of.

Two of this summer season’s excellent bankruptcies in the crypto industry—Celsius and Voyager—gain printed publicity to FTX, which could presumably presumably dramatically restructure their monetary waste lawsuits.

Celsius Has $1.3M Locked, $13M Loans

Celsius reported publicity to FTX on the original time.

The company tweeted on November 11 that it has 3.5 million SRM ($1.3 million) locked in FTX contracts. It also acknowledged that it has $13 million of undercollateralized loans to Alameda Analysis, that are backed by the FTT token.

Celsius added that it has been “carefully monitoring” events and acknowledged that it stays in conversation with stakeholders. “Our work to maximise stakeholder payment continues as our singular focal point,” it wrote in its assertion.

Ties between the companies poke deeper: FTX regarded as buying Celsius after the corporate iced up withdrawals in June nonetheless canceled that deal after seeing particulars of Celsius’ finance. Ironically, FTX suffered the identical fate this week as Binance reversed its acquire plans to rescue FTX once it noticed the extent of the change’s losses.

FTX also regarded as bidding on Celsius’ resources, which went up for auction this autumn. That auction has been delayed to December, and no winner has been announced.

Voyager Has $3M Exposure

Voyager, in the period in-between, announced that its acquire monetary waste had been plagued by most novel events. Voyager filed for monetary waste in July and auctioned $1.4 billion price of resources in the following months.

FTX acquired that show in September nonetheless did no longer full the deal before its acquire crumple this week. Voyager acknowledged that FTX US has submitted excellent a “factual faith” deposit of $5 million and that FTX has no longer transferred the auctioned resources.

Voyager affirmed that the earlier asset hang agreement between the two companies “is now no longer binding.” As such, this could presumably have to re-originate the auction: the corporate acknowledged it is “evaluating strategic choices as a outcomes of the Chapter 11 filing by FTX Community” and is in dialogue with change bidders.

Voyager also acknowledged it recalled loans of 6,500 BTC ($110 million) and 50,000 ETH ($845 million) from Alameda Analysis, as on the beginning announced in September. Voyager acknowledged it has “no loans eminent with any borrower” at present.

Nonetheless, Voyager says it silent has $3 million of crypto—largely Terra (LUNA) and Serum (SRM) tokens—locked in contracts at FTX. This intention that Voyager silent has some publicity to the failed company.

Industry Exposure Composed Unclear

Diverse companies, in conjunction with Circle, Tether, and Coinbase, gain denied publicity to FTX. Animoca Manufacturers, Bitvo, and Silvergate gain admitted minimal publicity.

More seriously, Genesis Procuring and selling has acknowledged that it has $175 million locked with FTX nonetheless that it could most likely perchance presumably presumably no longer impact its market-making actions. BlockFi, in the period in-between, has suspended particular person process and disclosed a $400 million loan from FTX US.

Disclosure: At the time of writing, the author of this half owned BTC, ETH, and other digital resources.

The knowledge on or accessed via this web pronounce is bought from goal sources we think to be correct and reliable, nonetheless Decentral Media, Inc. makes no illustration or guarantee as to the timeliness, completeness, or accuracy of any knowledge on or accessed via this web pronounce. Decentral Media, Inc. is no longer an investment manual. We waste no longer give personalized investment advice or other monetary advice. The knowledge on this web pronounce is subject to alternate with out take into legend. Some or the general knowledge on this web pronounce could presumably presumably became out of date, or it will be or became incomplete or incorrect. Lets, nonetheless are no longer obligated to, change any out of date, incomplete, or incorrect knowledge.

That you just would possibly perchance presumably silent never design an investment resolution on an ICO, IEO, or other investment in step with the knowledge on this web pronounce, and likewise that you simply can silent never elaborate or otherwise rely on any of the knowledge on this web pronounce as investment advice. We strongly recommend that you simply consult a certified investment manual or other certified monetary skilled even as you are seeking investment advice on an ICO, IEO, or other investment. We waste no longer settle for compensation in any compose for inspecting or reporting on any ICO, IEO, cryptocurrency, foreign money, tokenized sales, securities, or commodities.

Deem about rotund terms and stipulations.

FTX Submitting for Chapter 11 Financial waste, SBF Stepping Down


John J. Ray III will change Sam Bankman-Fried as CEO. FTX Ready for Chapter 11 FTX is filing for monetary waste. Press Free up — FTX (@FTX_Official) November 11, 2022 The…

FTX Filing for Chapter 11 Bankruptcy, SBF Stepping Down

FTX Wins Voyager Digital’s Asset Public sale


Bankrupt crypto lender Voyager Digital announced on the original time that FTX had acquired its resources at auction. FTX Wins Voyager Public sale FTX has acquired Voyager Digital’s resources. Per an announcement, FTX’s…

FTX Wins Voyager Digital’s Asset Auction

Bahamian Authorities Freeze FTX Sources


The Securities Commission of the Bahamas is taking action to freeze FTX’s resources. Regulators Step In Bahamanian regulators are taking swift action against FTX. The Nassau Guardian reported on the original time that the Securities…

Bahamian Authorities Freeze FTX Assets

BlockFi Halts Withdrawals Attributable to FTX Give intention


Crypto lending carrier BlockFi has announced that this could presumably droop products and services due to the FTX’s ongoing crumple. BlockFi Pauses Withdrawals BlockFi is pausing its products and services. The evening of November 10, the…

BlockFi Halts Withdrawals Due to FTX Collapse

Read More

Related posts

Beanstalk Hacker Steals $76M in Flash Mortgage Exploit

The Crypto News

Binance Dapper Chain Protocol Qubit Finance Hacked for $80M

The Crypto News

Are USB ASIC Miner Devices Winning?

The Crypto News

Leave a Comment

Or Login with

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More