Caixin
Nov 14, 2022 08:19 PM
BUSINESS

Hong Kong Crypto Firm Says Deposits at Risk After FTX Meltdown

FTX, created by the industry’s onetime wunderkind Sam Bankman-Fried, has filed for bankruptcy protection in the U.S. Photo: IC Photo
FTX, created by the industry’s onetime wunderkind Sam Bankman-Fried, has filed for bankruptcy protection in the U.S. Photo: IC Photo

Hong Kong-based crypto services provider New Huo Tech Holdings Ltd. said it has $18.1 million of digital currency deposits in FTX.com that it may not be able to retrieve after the world’s second largest cryptocurrency exchange collapsed in a dramatic meltdown.

New Huo Tech, previously known as Huobi Technology, said that its subsidiary Hbit Ltd. had deposited the cryptocurrency in FTX, including $13.2 million clients’ deposits and approximately $4.9 million of Hbit’s assets, according to a Monday filing with the Hong Kong Stock Exchange.

You've accessed an article available only to subscribers
VIEW OPTIONS
Share this article
Open WeChat and scan the QR code
NEWSLETTERS
Get our CX Daily, weekly Must-Read and China Green Bulletin newsletters delivered free to your inbox, bringing you China's top headlines.

We ‘ve added you to our subscriber list.

Manage subscription
PODCAST
Caixin-Sinica Business Brief: China Mourns Death of Former President Jiang Zemin
00:00
00:00/00:00