Experts appreciated the scale of crypto funds loss due to ftx collapse
Losses of cryptocurrency funds due to bankruptcy FTX can be up to $ 5 billion. This was reported by BlockWorks with reference to the study by Crypto Fund Research.
According to experts, the crisis touched on 25-40% of industry investment structures that invested in FTX or its Utility Token FTT.
CEO Crypto Fund Research Josh Gnice said that we are talking about 7-12% of assets under the control of funds.
“When it clears up, we expect the loss of hedge funds and venture companies directly due to the FTX collapse at best over $ 1 billion, and perhaps all $ 5 billion,” he said.
The industry participants, on anonymity, told the publication that the losses of the asset management could be even more.
“The number of absolutely [destroyed] funds is just starting to open,” said one of the sources.
Crypto Fund Research receives monthly reports on the activities of more than 100 industry investment structures.
Paradigm and Sequoia Capital reported that potential losses due to the FTX crisis can be $ 278 million and $ 213 million, respectively.
Genesis Trading reported that the division of derivatives in the account on the platform blocked about $ 175 million.
As of November 8, Galaxy Digital Mike Novogradz had a ftx position in cash and digital assets in the amount of $ 76.8 million. Of these, $ 47.5 million were in the output process, the company said in the financial results of the third quarter.
Multicoin Capital informed The Block that she invested $ 25 million in the American unit, and also held $ 2 million in the USDC on the exchange itself.
The venture company has invested in FTX US through the $ 430 million created in July Venture Fund III. Investments in the bankrupt platform are 5.8% of the fund funds, Multicoin noted.
Crypto Fund Research experts estimated the cost of Pantera Capital’s FTX assets of approximately $ 100 million. The company did not confirm the data, but said earlier that the collapse of the exchange “slightly” affected the Pantera business.
Researchers expect a record number of investors’ requests for a return from crypto funds in November – in an amount of up to $ 2 billion. The previous maximum – $ 1.3 billion – in Crypto Fund Research recorded in June after Terra collapse.
Recall that Bloomberg skeptically appreciated the possibility of compensation by investors https://gagarin.news/ and customers of FTX of their losses.
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