Galaxy Digital’s CEO assured crypto users that the leading cryptocurrencies, “Bitcoin and Ethereum are not going anywhere despite the crisis of confidence in the crypto market.” Mike Novogratz stated that he was disappointed with the current state of the crypto market. He said it would take some time to recover from the current situation.
“We certainly have a crisis of confidence in this market, and we are not out of the woods yet. There is a lot of daisy chain effect going on, and people had exposure to Three Arrows, and people had exposure to FTX, and FTX was a major player.
After the announcement of Binance, the US-based Galaxy Digital company withdrew $47.5 million (USD) from the bankrupt crypto exchange FTX. On Wednesday, the company executives released an earnings report that Galaxy’s partners hold digital assets and cash worth $77 million (USD) on the platform. And they said Galaxy Digital had zero exposure to FTX’s native token, Alameda Research and FTT.
De Michael Novogratz, CEO vu Galaxy Digital, sot, "d'Firma huet ugefaang vu e Sonndeg Nuecht Risiko erof ze huelen ongeféier $ 47.5 Milliounen (USD) ass am Moment am Réckzuchsprozess, an hien huet bemierkt datt Galaxy en hoffentlech awer zyneschen Depot ass."
Novogratz sot: "Wat schmerzhaft ass, ass datt de Sam Bankman-Fried sou vill Zäit zu DC verbruecht huet. Et war net datt dat wat hie gesot huet verréckt war. Hien huet derbäigesat: "Et ass just datt wann de Messenger no ausgesäit wéi wann hien säi Schëff an en Äisbierg gerannt huet. Et wäert just d'Leit rosen, mat deenen hien Zäit verbruecht huet an dëst e puer verlangsamen.
“When you deposit your dollars on FTX exchange, they are your coins, and lending them to his family office was not part of the deal. That’s fraud,” Novogratz stated.
Viru kuerzem huet Galaxy seng Drëtt-Véierel Akommesberichter verëffentlecht. Michael sot d'Resultat war schrecklech. Am Q3 Akommes huet d'Entitéit e Verloscht vun $68 Milliounen (USD) konfrontéiert am Verglach zum Q1 an Q3 sinn $112 Milliounen (USD) respektiv $555 Milliounen (USD). D'Exekutive soten datt Galaxy $ 1.5 Milliarde (USD) a Liquiditéit behält, dorënner $ 1 Milliard (USD) a Cash.
Wéinst dem enorme Verloscht am Q3 Akommes huet Galaxy decidéiert 15% vu senger Aarbechtskräfte vu senger Plattform ze läschen. "Et ass ëmmer schmerzhaf d'Leit ze loossen, awer ech mengen, mir hunn d'Schëff richteg gefaangen a fille gutt doriwwer," sot de Michael.
Source: https://www.thecoinrepublic.com/2022/11/28/are-cryptocurrencies-like-bitcoin-and-ethereum-still-around-today/