BitNile sees no direct exposure to collapsed FTX crypto exchange
2 months ago
BitNile Holdings (NYSE:NILE) said Monday that it expects to person zero exposure to the meltdown of the once-prominent cryptocurrency exchange, FTX, which precocious filed for Chapter 11 bankruptcy.
Its bitcoin (BTC-USD) holdings are secured successful custodial wallets that "mitigates the hazard of nonaccomplishment akin to those from the FTX disruption," the BTC miner said.
“Other than the precise hard marketplace conditions for Bitcoin successful caller days, BitNile and its subsidiaries person not been disrupted by caller bankruptcies of manufacture participants," said BitNile Executive Chairman Milton “Todd” Ault, III.
With the FTX debacle sending shockwaves passim the cryptoverse, bitcoin (BTC-USD) has dropped 9% successful the past 5 trading sessions.
Previously, (Nov. 11) integer plus focused slope Silvergate Capital (SI) said its FTX vulnerability was limited to deposits.