The quick downfall of FTX with an $8-10 billion deficit in its balance sheet has left the broader cryptocurrency market reeling under its cascading effects.
Nailwal claimed neither Polygon nor any of its subsidiaries ever opened an account with FTX and went on to reveal that, on the contrary, FTX Ventures bought $50 million worth of MATIC early this year. Polygon is a Mumbai-based startup registered in the British Virgin Islands.Indian crypto exchanges have responded to the emerging situation with enhanced PR activities and some noteworthy initiatives.
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