There is not much good news to talk about in the current financial situation. However, a cryptocurrency trading platform named Auros has reportedly shared an optimistic outlook regarding the cryptocurrency market.
Several media reports have confirmed that Auros was able to collect $17 million in funding to make up for the losses that it incurred during the demise of the FTX exchange.
It is worth noting that the firm had lost the funding from FTX valued at $20 million when it was getting assimilated. These realized losses were estimated after the bankruptcy proceedings in the British Virgin Islands Court in the form of debt restructuring.
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The investment has been assured by the TradFi enterprise named Vivienne Courth and the Bitcoin mining company named Bit Digital. This is a cryptocurrency trading and market-making network named Auros which faced severe difficulties in the wake of the FTX exchange bankruptcy.
The time for celebration for cryptocurrency investors is rapidly approaching. To this end, cryptocurrency investors are set to register more gains as they are getting more traction with every passing moment.
In this reverting time, crypto trading platform Auros which has managed to hold out despite liquidity issues has found enough support to make a comeback. The Chief Investment Officer of the firm Benjamin Roth has spoken with the media on this matter.
He told the media that Auros was under the supervision of the court on account of provisional liquidation. It was able to qualify for a loan on account of the debt restructuring taking place last week.
However, this current resurfacing was only possible after months of passive struggle to ensure the survival of the said firm. Many cryptocurrency firms were wiped out of existence under the dust cloud that was generated by the FTX explosion.
Before the FTX saga unfolded, Auros was able to rank as the top 10 market makers and crypto trading platforms in the world. The firm was responsible for hosting around 1-2% of the aggregate trading volume around the globe. Speaking on the matter, Roth claimed that the company is finally able to surface out of the ditch created by the FTX crash.
He assured the users of the platform that the firm has once again morphed into the same reliable enterprise that it was before FTX.
When FTX went down several cryptocurrency firms came under the threat of facing bankruptcy on account of the increasing fear among the investors concerning their custodial wallet funds. Among other firms, Auros also faced issues with liquidity but it was able to recover.
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