Nickel Digital Asset Management shouldn’t be the solely firm feeling the results of FTX’s collapse and chapter. NFT protocol Metaplex additionally laid off “several members of the Metaplex Studios team” due to the “indirect impact” from the collapse of crypto change FTX. The co-founder and CEO of Metaplex Studios, Stephen Hess, shared in a thread on Twitter:
“While our treasury wasn’t directly impacted by the collapse of FTX and our fundamentals remain strong, the indirect impact on the market is significant and requires that we take a more conservative approach moving forward.”
(3/7) While our treasury wasn’t instantly impacted by the collapse of FTX and our fundamentals stay sturdy, the oblique impact on the market is important and requires that we take a extra conservative method transferring ahead.
— stephen.sol (@meta_hess) November 17, 2022
The Ontario Teachers’ Pension Plan has additionally had to swallow some losses. According to an announcement made by the Canadian-based lecturers’ pension fund, it invested $75 million into FTX International and its US entity, FTX.US. The Ontario Teachers’ Pension Plan shared that the funding “represented less than 0.05%” of its complete web belongings and “equated to ownership of 0.4% and 0.5% of FTX International and FTX.US, respectively.” Although disillusioned by its losses, the pension plan asserts that “the financial loss from this investment will have limited impact on the Plan, given its size relative to our total net assets and our strong financial position.”
Related: Crypto Biz: FTX fallout leaves blood in its wake
On Nov. 18, Cointelegraph reported that Genesis Block, a frontrunner for offering cryptocurrency retail companies in Hong Kong, separate from the institutional cryptocurrency buying and selling companies Genesis, will start closing down its over-the-counter (OTC) on-line buying and selling portal beginning Dec. 10.
London-based crypto funding agency Nickel Digital Asset Management reported on Nov. 18 that it has round $12 million of its funds caught on FTX. According to founder and chief funding officer Michael Hall, the firm has been unable to withdraw funds, which allegedly account for an estimated 6% of its $200 million in belongings below administration.