Crypto trading firm Auros discloses provisional liquidation. FTX has over $1 billion in assets identified, its creditors were told on Tuesday. $BTC held steady at the $16,800 level, while $ETH was trading around $1,215, _jocelynyang_ reports
Auros said that the decision followed “the events that transpired around FTX,” the crypto exchange formerly helmed by Sam Bankman-Fried that imploded in November.
“The company found itself in a position where immediate liquidity was insufficient to satisfy recalls from lenders,” according to the statement. “Management and directors remained confident in the long-term prospects for the business.”"Upon the successful implementation of the restructuring, it is anticipated that Auros’ operations would resume as normal.”, according to the intelligence site OffShoreAlert, which cited a Nov. 16 court filing submitted to the British Virgin Islands High Court. The news was previously reported by The Block.
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