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Gungun Bhatia
Nov 15, 2022
by Gungun Bhatia

Sino Global Capital Speaks Out about FTX Exposure

Sino Global FTX

Table of contents

  1. Sino Global- Major Supporter of FTX
  2. Meeting of CEOs
Sino Global Capital, a Chinese cryptocurrency venture capital firm, has spoken out about the magnitude of its exposure to FTX. In a message posted on Twitter on November 15, the corporation claimed that its direct exposure to FTX, the exchange was constrained to mid-seven figures held in detention. There was no precise amount given. The letter further said that Sino is still in business and funding new businesses.

Sino Global- Major Supporter of FTX

In October of last year, Sino announced the opening of its first fund to outside investors. Since FTX stated that the company was experiencing a financial problem and later declared bankruptcy, speculation over Sino's stakes have been growing. Sino is a well-known major supporter of FTX and FTX-adjacent initiatives, including Solana and Serum.

In a statement to investors today, the business stated that they did not put any LP funds into FTX. The investment in the stock of FTX was done before the opening of the fund.

Meeting of CEOs

Additionally, it was made clear that the company had not adopted any short-term trading or leveraged trading tactics concerning investment positions.

Matthew Graham, the company's CEO, was seen in Riyadh at the end of October alongside Sam Bankman-Fried, the CEO of FTX. FTX served as Sino's first external fund's primary investor.

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Sino Global Capital Speaks Out about FTX Exposure
Gungun Bhatia
Gungun is an enthusiastic writer that likes to create content for various aspects of the blockchain and crypto industry. She carries out extensive research and provides readers with informative and high-quality material.

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