Thread by @Megablock_Gems

✅#FTXscandal is sending shockwaves through crypto sector.

What is the long-term effects of #FTX's #bankruptcy❓ Will the domino effect happen❓

🤮Let's explore firms with exposure to #FTX's fall

Threat🧵👇

1/ #BlockFi - the world’s largest crypto lenders files for bankruptcy.

BlockFi had a $600M+ loan to FTX/Alameda and SBF was unable to repay.

2/ Crypto lender @SALTLending halts withdrawals citing #FTXScandal impact

CEO of SALT said that "the collapse of #FTX has impacted our business." However, the full extent of the exposure was not disclosed

https://twitter.com/TheBlock__/status/1592676502180712449?s=20&t=JR1HpNwDU0iIvkbRe06GzA

3/
@Oxygen_protocol (OXY) and MAPS are in trouble because FTX holds the majority of tokens

https://twitter.com/Oxygen_protocol/status/1592609193760280576

4/
@ambergroup_io says no exposure to Alameda or $FTT but an active trading participant on #FTX.

There are pending withdrawals representing about 10% of our total trading capital.

https://twitter.com/ambergroup_io/status/1590382100955697154

5/ In 2021, @sequoia invested $213.5M in
@FTX_Official. Today, it’s worth $0

https://twitter.com/sequoia/status/1590522718650499073?s=20&t=x9J_bo4ew7LTWBjeQHvVZQ

6/ Galaxy Digital reveals $76.8M FTX exposure after reporting Q3 loss ($68.1M)

However, @galaxyhq is now withdrawing $47.5M of that amount.

coindesk.com/business/2022/…

7/
⚡️Multicoin Capital, one of the top #crypto-focused venture capital firms, is significantly impacted by #FTX's collapse with 10% of its fund's AUM stuck on the exchange.

Those include $BTC, $ETH & $USD.

theblock.co/post/184766/mu…

8/
Crypto hedge fund @Galois_Capital Has Half of Its Capital Trapped on @FTX_Official ($40M)

@Galois_Capitalis now considering its future prospects.

coindesk.com/business/2022/…

9/Paradigm, a cryptocurrency-focused investor lost $290M

Paradigm founder feels ‘deep regret’ over FTX investment, marks it down to zero

https://twitter.com/matthuang/status/1592595243907526656?s=20&t=aohSbCNfQwmuLb1cMxWPGw

10/
Ontario Canada Pension Fund for teacher had almost $100M invented in #FTX

Ontario announced it will write down its entire investment in #FTX to zero
#FTXScandal @paradigm @sequoia @Temasek

11/
Temasek, @Temasek a Singapore state investor has announced a loss of $275M as a result of its investment in FTX international and FTX US.

#Temasek decides to drop all investments in FTX, from $275M to $0 in the bankrupt #FTX.🤯