FalconX Claims Financially Stable Despite FTX Exposure
FalconX provides support to users in times of crisis after the collapse of FTX. The company claims that only 18% is held on FTX by the company, so it has no impact on its finances. FalconX stated that it is still “one of the most well-capitalized digital assets companies” despite not being able to recover any assets from FTX.
“FalconX cash equivalents represented 18% of our unencumbered cash alternatives .” This ratio was within our counterparty exposure limits.
80% of its assets are sourced from US banks that are regulated. FalconX claims it is not affiliated with Alameda Research Genesis, BlockFi, or Genesis. The company claims that its trading volume has increased by more than 80% per month, with an average daily volume of billions of dollars.
“Our volumes have increased 80% month-overmonth and we continue to trade billions in daily volume with clients ,(…). We are confident in the future and committed to the industry’s maturation.
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