Cryptocurrency

As a means of repairing a hole in its financial sheet caused by the failure of FTX, cryptocurrency market creator Auros has successfully raised $17 million from new investors.According to a statement released by Auros, investors in the fund raise included senior alumni from the market making giant Optiver, senior executives from the high frequency trading firm Vivienne Court, the Nasdaq-listed digital asset mining company Bit Digital, Trovio, Epoch Capital, Primal Capital, and others.According to the announcement made by the company, Marcel Klooss, who was a co-founder of Vivienne Court, and Hughes Ching, who was a co-founder of Bit Digital, would be joining the board of directors at Auros.In an email answer to queries posed by The Block, Auros co-founder Benjamin Roth stated that the influx of new capital will assist the company in concluding a provisional liquidation and restructuring procedure that it entered around the end of the previous year. Once the exchange filed for bankruptcy, about twenty million dollars&#39; worth of the company&#39;s assets were left stranded on the FTX platform. As a result, the company ran into financial difficulties and was unable to make several loan repayments.&#34;We are also well-positioned to further expand our strategic market making business and help establish healthy, liquid markets for all of our partners,&#34; wrote Roth. &#34;We are also well-placed to further expand our strategic market making business.&#34; &#34;It is also important to highlight that the business continued to run as usual throughout this process, and we have continued to support all of our partners this entire time,&#34; said the CEO of the company.According to a statement released by Auros, the most recent fundraising round will also be utilized to develop the company&#39;s activities in the areas of high frequency trading and derivatives solutions.

Market Maker Auros Raises Fresh Capital to Repair Finances Hit by FTX Collapse

ItsBitcoinWorld

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