TechFlow News, November 17 — According to sources cited by Blockworks, Multicoin lost approximately 55% of its assets within about two weeks due to the FTX bankruptcy. Losses stemmed not only from 9.7% of its assets being held by FTX but also from its long-standing bullish positions in Solana and Solana-based assets such as Mango, where FTX was the sole available U.S. counterparty, holdings in FTX.US equity, and outstanding derivatives contracts.
Additionally, Multicoin has no plans to shut down its flagship fund or transition to a proprietary trading operation. The firm is instead introducing operational and infrastructure improvements, including efforts to reduce counterparty risk.Original article link
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