Galaxy Digital Reveals Update on Ties to FTX, Partnership Has ‘Exposure of Approximately $76.8 Million’
Following the issues surrounding FTX, the publicly-listed firm Galaxy Digital published its third-quarter earnings report and noted it has an “exposure of approximately $76.8 million of cash and digital assets to FTX.” The news follows a great number of exchange executives announcing that they had zero material exposure to the troubled exchange. Galaxy Digital Has Close to $77 Million in FTX Exposure After Galaxy Digital was dealt with a blow from the Terra blockchain fallout and UST depegging event, the company has revealed exposure to the embattled crypto exchange FTX. It started on Nov. 6, when Binance CEO Changpeng Zhao (CZ) told the public his exchange would dump FTT, the FTX-built exchange token. Then, after a couple of days of confusion, CZ and FTX CEO Sam Bankman-Fried revealed Binance would be acquiring FTX, with details to be announced in the near future. However, Binance revealed on Nov. 9 that it has officially backed out of the deal to acquire FTX. The news has rat