Bitcoin

In an interview with CoinDesk, Chief Investment Officer Benjamin Roth stated that the cryptocurrency trading and market making company Auros, which was a victim of the bankruptcy of the cryptocurrency exchange FTX, has overcome its liquidity issues.After completing a significant amount of debt restructuring and securing a fresh investment of $17 million, which was led by the traditional high-frequency trading company Vivienne Court Trading and the public bitcoin mining company Bit Digital, Auros was released from a court-supervised provisional liquidation last week (BTBT).The turn of events comes after months of behind-the-scenes maneuvering to keep the firm running following the implosion of crypto exchange FTX, which wiped out multiple crypto firms and caused painful losses at some trading companies. The implosion of FTX caused multiple crypto firms to go out of business and caused painful losses at some trading companies.According to the information provided by the company, before to the crash on FTX, Auros ranked among the top 10-15 digital asset market makers and was responsible for managing around 1%-2% of the overall trading volume in cryptocurrencies.In November, the company ran into problems with its liquidity when approximately $20 million worth of its digital assets were frozen on the exchange that has now gone out of business, and it had missed payments on approximately $18 million worth of decentralized finance (DeFi) loans.After submitting a petition in the British Virgin Islands for provisional liquidation, the company spent around five months under the supervision of the court negotiating how to repay its outstanding debt and make its creditors whole. Roth stated that the corporation is putting the FTX scandal in the past.He stated, &#34;We remain the same company that we were prior to the FTX.&#34;

Crypto Trading Firm Auros Secures $17M Investment as It Recovers From FTX Woes

ItsBitcoinWorld

Other articles published on Mar 21, 2023

Ripple Labs cites Voyager Digital ruling in XRP Vs SEC lawsuit

Top 3 Centralized Exchanges in Tezos

Becoming Borderless Pioneers. Bware Labs Roadmap and Commitment to Web3 Builders

Data shows increase in NFT wash trading by 126% in February

Bitcoin supporter Nayib Bukele is supported by more than 90% of Salvadorans

TONcoin.Fund Leads $1.5 Million Seed Funding for Megaton Finance Driving DeFi Growth on The Open ...

Join our free newsletter for daily crypto updates!