Lawyers representing the collapsed cryptocurrency exchange, FTX, have said that a “substantial amount of assets have either been stolen or are missing” at a bankruptcy hearing in federal court in Delaware.
The Digital Currency Group (DCG) has revealed in a letter to investors that it has $2 billion of liabilities, including a $575 million loan from Genesis Global Capital, its own subsidiary. The group has a $350 million credit facility from a group of lenders led by Eldridge Industries, and a $1.1 billion promissory note connected to the collapse of Three Arrows Capital.
Coinbase’s 2022 Digital Assets Outlook Survey has shown that 62% of investors who are currently invested in the cryptocurrency space increased their allocations over the past 12 months, compared to 12% who decreased allocations.
Top stories in the Crypto Roundup today:
- FTX Says ‘Substantial’ Portion of Assets are Missing
- Digital Currency Group Reveals $2 Billion of Liabilities
- Coinbase Survey: 62% of Crypto Investors Increased Allocations Over Past 12 Months
- Spot Trading Volume Drops Following FTX’s Bankruptcy