CoinShares says has $30.3 million exposure to FTX

Representations of cryptocurrency Bitcoin, Ethereum and Dash plunge into water in this illustration taken, May 23, 2022. REUTERS/Dado Ruvic/Illustration/File Photo

LONDON, Nov 10 (Reuters) - Crypto asset manager CoinShares has $30.3 million worth of exposure to crypto exchange FTX, CoinShares said in a statement on Thursday.

CoinShares said its exposure to FTX includes $3.1 million worth of bitcoin and $1.2 million worth of ether in pending withdrawals requests which were sent before FTX halted customer withdrawals on Nov. 8. Its exposure also includes $25.9 million worth of dollars and the stablecoin USDC, and $110,000 of unspecified "other assets."

"The financial health of the Group remains strong," said CoinShares CEO, Jean Marie Mognetti, adding that its net asset value on Sept. 30, 2022 was 240.6 million pounds ($279.10 million).

($1 = 0.8621 pounds)

Reporting by Elizabeth Howcroft; Editing by Toby Chopra

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