After major crypto exchange FTX filed for U.S. bankruptcy protection on Friday, the crypto industry is bracing for further fallout.
Other crypto firms may be exposed to FTX by having held tokens on the exchange or by owning FTX's native token, FTT, which plunged around 94% last week .
While the extent of the contagion across crypto markets remains unclear, here are some firms who have given information about their exposure to FTX.Binance Chief Executive Changpeng Zhao sparked concerns among investors on Nov. 6 when he said in a tweet that Binance would sell its holdings of FTT.Zhao told a Twitter spaces event on Monday that Binance had previously held $580 million worth of FTT, of which "we only sold quite a small portion, we still hold a large bag".
"We do have significant exposure to FTX and associated corporate entities that encompasses obligations owed to us by Alameda, assets held at FTX.com, and undrawn amounts from our credit line with FTX.US," BlockFi said.with the troubled crypto lender to provide it with a $400 million revolving credit facility with an option to buy it for up to $240 million.Bankrupt crypto lender Celsius Network said in a tweet on Nov. 11 that it had 3.
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