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CoinDesk
‘Italian FTX’ Leaves Users in Limbo, Citing ‘Difficulties in Liquidity Management’
“The company is conducting internal audits to identify the causes of the problem and evaluating the adoption of all appropriate or necessary initiatives to protect customers and other stakeholders,” said the email, reviewed by CoinDesk. The list includes the collapse of Terraform Labs, the bankruptcy of the Three Arrows Capital hedge fund, crypto lenders Celsius Network, BlockFi and Voyager Digital, miners Core Scientific and Compute North and the spectacular downfall of U.S. crypto exchange FTX. The same day, TRT Chief Financial Officer Andrea Medri told about 2,370 people in the TRT Telegram group that “the TRT team has been working cohesively and non-stop since last Friday to manage the crisis,” and promised more information.
