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CoinShares says has $30.3 million exposure to FTX

Published 11/10/2022, 09:23 AM
Updated 11/10/2022, 09:26 AM
© Reuters. FILE PHOTO: Representations of cryptocurrency Bitcoin, Ethereum and Dash plunge into water in this illustration taken, May 23, 2022. REUTERS/Dado Ruvic/Illustration/File Photo

LONDON (Reuters) - Crypto asset manager CoinShares has $30.3 million worth of exposure to crypto exchange FTX, CoinShares said in a statement on Thursday.

CoinShares said its exposure to FTX includes $3.1 million worth of bitcoin and $1.2 million worth of ether in pending withdrawals requests which were sent before FTX halted customer withdrawals on Nov. 8. Its exposure also includes $25.9 million worth of dollars and the stablecoin USDC, and $110,000 of unspecified "other assets."

© Reuters. FILE PHOTO: Representations of cryptocurrency Bitcoin, Ethereum and Dash plunge into water in this illustration taken, May 23, 2022. REUTERS/Dado Ruvic/Illustration/File Photo

"The financial health of the Group remains strong," said CoinShares CEO, Jean Marie Mognetti, adding that its net asset value on Sept. 30, 2022 was 240.6 million pounds ($279.10 million).

($1 = 0.8621 pounds)

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