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Crypto Fund Sino Global Regrets Its 'Misplaced Trust' in FTX, Reports 'Mid-Seven' Figure Losses Tied to Exchange

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Vocal FTX backer SinoGlobalCap has “mid-seven figures” tied up on the FTX, the exchange with which it once launched a venture fund. By shauryamalwa

Crypto fund Sino Global Capital confirmed losses tied to bankrupt exchange FTX this morning, adding it was continuing as normal.

Sino Global added it “deeply regrets that misplaced trust” put into FTX, which now faces legal inquiries tied to the handling of customer funds and its relationship with trading arm Alameda Research, to which FTX loaned billions of dollars.

 

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