Nickel Digital, Metaplex and others continue to feel the impact of FTX’s collapse

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Nickel Digital Asset Management isn’t the only company feeling the effects of FTX’s collapse and bankruptcy. NFT protocol Metaplex has also laid off “several members of the Metaplex Studios team” due to the “indirect impact” of the collapse of crypto exchange FTX. Metaplex Studios co-founder and CEO Stephen Hess shared in a thread on Twitter:

“While our cash position was not directly impacted by the FTX collapse and our fundamentals remain strong, the indirect impact on the market is significant and forces us to take a more conservative approach moving forward. “

The Ontario Teachers’ Pension Plan also had to swallow losses. According to a announcement made by the Canada-based teachers’ pension fund, it invested $75 million in FTX International and its US entity, FTX.US. The Ontario Teachers’ Pension Plan said the investment “represented less than 0.05%” of its total net assets and “equaled to owning 0.4% and 0.5% of FTX International and FTX.US, respectively”. Although disappointed with its losses, the pension plan says that “the financial loss of this investment will have a limited impact on the Plan, given its size in relation to our total net assets and our strong financial position”.

Related: Crypto Biz: FTX Fallout Leaves Blood in Its Wake

November 18, Cointelegraph reported that Genesis Blocka forerunner for the provision of retail cryptocurrency services in Hong Kong, separate from the institutional Genesis cryptocurrency trading services, will start to close its online over-the-counter (OTC) trading portal from December 10.

London-based crypto investment firm Nickel Digital Asset Management announced on Nov. 18 that it had approximately $12 million of its funds locked up on FTX. According to founder and chief investment officer Michael Hall, the company has been unable to withdraw funds, which are thought to represent about 6% of its $200 million in assets under management.


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