FTX bankruptcy freezes millions worth of crypto company funds

  • 📰 Cointelegraph
  • ⏱ Reading Time:
  • 51 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 24%
  • Publisher: 51%

المملكة العربية السعودية أخبار أخبار

المملكة العربية السعودية أحدث الأخبار,المملكة العربية السعودية عناوين

The FTX bankruptcy is hurting several companies in the space. Between Nov. 11 to 14, three crypto companies announced large losses, with one of them having to lay off workers to deal with the crisis.

New Huo Technology, the owner of the Hong Kong-based crypto platform Hbit Limitedon Nov. 14 it failed to withdraw $18.1 million worth of cryptocurrency before FTX stopped processing withdrawals.

$13.2 million of this loss are digital assets owned by Hbit users with the company saying it would continue to take steps to “withdraw the cryptocurrency as soon as possible,” bit admitted due to FTX’s bankruptcy filings the crypto “may not [be] able to be withdrawn from FTX.” According to the announcement, Li Lin, the controlling shareholder of the company and founder of the Huobi crypto exchange, agreed to loan up to $14 million to the company for it to use in processing withdrawals. However, the company does not yet know what the financial impact of FTX’s bankruptcy will be if it is never able to withdraw the funds.

Nigerian Web3 startup Nestcoin also announced it failed to withdraw funds from FTX with the company’s CEO, Yele Bademosi, posting to Twitter on Nov. 14 a letter previously shared with investors. The letter detailed that Nestcoin will lay off workers “as we held our assets at FTX to manage our operational expenses” and it no longer has the funds to pay some staff.

 

شكرًا لك على تعليقك. سيتم نشر تعليقك بعد مراجعته.

This is the case at the moment

Just now? 🤔 It's bit to early to make such claims as a reason for lay off

لقد قمنا بتلخيص هذا الخبر حتى تتمكن من قراءته بسرعة. إذا كنت مهتمًا بالأخبار، يمكنك قراءة النص الكامل هنا. اقرأ أكثر:

 /  🏆 562. in SA

المملكة العربية السعودية أحدث الأخبار, المملكة العربية السعودية عناوين

Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.

Warriors join Heat, suspend deal with FTX after cryptocurrency company declares bankruptcyThe Golden State Warriors are suspending their deal with FTX, too.
مصدر: WOKVNews - 🏆 247. / 63 اقرأ أكثر »

Golden State Warriors suspend deal with crypto company FTXOn Monday, the Golden State Warriors announced that they would be suspending their partnership with FTX, after their game against the San Antonio Spurs. They become the second NBA team to cut ties with the crypto company after it declared bankruptcy.
مصدر: sfexaminer - 🏆 236. / 63 اقرأ أكثر »

Warriors suspend deal with crypto company FTXLast December, both the Warriors and FTX announced a 'first-of-its-kind' cryptocurrency partnership
مصدر: sfexaminer - 🏆 236. / 63 اقرأ أكثر »