Galaxy Digital discloses $77M exposure to FTX, $48M likely locked in withdrawals

[Google News Bot]

In its latest quarterly earnings call on Nov. 9, blockchain financial services firm Galaxy Digital disclosed that it had an exposure of $76.8 million consisting of cash and digital assets to troubled cryptocurrency exchange FTX. Of this amount, Galaxy Digital said that $47.5 million are currently in the withdrawal process. The day prior, FTX announced it had halted all withdrawals after the combination of a consumer bank run and a devastating price decline in its native FTT token, which the exchange uses for collateral, led to a liquidity crisis. Despite of the current situation, Galaxy ...

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