The crash of bankruptcy from the crypto exchange FTX escalates to the crypto industry. Huobi-related subsidiary is the latest victim.
Citing “Failure to withdraw cryptocurrency assets from crypto exchange FTX”, Hong Kong-listed company New Huo Technology Limited (HKEX: 1611) announced inside information Monday that around $18.1 million worth of cryptocurrencies owned by its subsidiary Hbit Limited, are deposited in crypto exchange FTX, per the latest announcement published on Hong Kong Exchange.
Among 18.1 million capital, around $13.2 million is “client’s asset based on the client’s trading request and approximately USD4.9 million is asset of Hbit Limited”. The listed company warned that the crypto assets “may not be able to be withdrawn from FTX” due to the filing of bankruptcy protection declared by FTX on Nov 11, which is suffering from a liquidity crunch.
The board of the company emphasised will…
