Matrixport, a crypto financial services platform that bills itself as a neo-bank, revealed to clients that two of its products have exposure to FTX.
Matrixport’s bitcoin fixed income products — including bitcoin fixed income products and smart trend products that use BTC Fixed Income Product as underlying — and the Victoria bitcoin fund products, which have a total of 79 users, have incurred losses as a result, it said in a letter to clients.
The letter stressed that the firm’s other products are segregated, so that “a single impacted product will not affect the other products.”
Matrixport has reached out to the 79 affected clients.
FTX has since filed for Chapter 11 bankruptcy. FTX is seeking bankruptcy protection in Delaware. In addition to FTX Trading, more than 100 corporate entities affiliated with FTX, including Alameda Research, are also filing for bankruptcy.
© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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