Auros market maker has filed for a restructuring of its operations after the company lost access to $20 million on the FTX platform. This follows from documents filed with the British Virgin Islands bankruptcy court, The Block reports.
The amount represented a “significant portion of Auros’s assets.”
The market maker conducted operations using a “series of loans and financing agreements with various creditors.” After the bitcoin exchange’s bankruptcy, the company ceased operations.
In 2022, the market maker became a participant of an institutional-investor–oriented lending protocol Clearpool.
In November Kaiko analysts reported a “Alameda rupture” — a significant drop in liquidity on the cryptocurrency market linked to the bankruptcy of Sam Bankman-Fried’s trading firm (along with FTX).
On November 16, Genesis Trading froze withdrawals and the issuance of new loans, another significant player — the OTC platform Genesis Trading.
A few days later, Multicoin Capital predicted the imminent collapse of trading firms. Analysts said they expected to see new statements from industry participants about problems.
Binance CEO Changpeng Zhao warned that the infamous crypto-winter is not over and the months ahead will be difficult.
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