CoinShares Discloses $30.3 Million Exposure to FTX
CoinShares Exposure to FTX
CoinShares, a leading crypto asset manager, has disclosed a total exposure of $30.3 million to the embattled crypto exchange FTX. This exposure includes $3.1 million in bitcoin and $1.2 million in ether, both part of pending withdrawal requests submitted before FTX halted customer withdrawals on November 8. Additionally, CoinShares holds $25.9 million in USD and the stablecoin USDC, along with $110,000 in unspecified "other assets."
Financial Health of CoinShares
Despite this exposure, CoinShares CEO Jean Marie Mognetti emphasized that the company's financial health remains strong. As of September 30, 2022, CoinShares reported a net asset value of 240.6 million pounds ($279.10 million), demonstrating its robust financial position.
This disclosure underscores CoinShares' ability to navigate challenges in the crypto market while maintaining stability and investor confidence.
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