Orthogonal Trading Hedge Fund Bankrupts Due To FTX Collapse

The collapse of FTX.com continues to cause “cannon fire” in the cryptocurrency market, with hedge fund Orthogonal Trading going bankrupt over $36 million in debt.

According to Bloomberg, lending firm Maple Finance cut off contacts with Orthogonal Trading after the latter announced that it was unable to repay $10 million in loans having been “significantly impacted by the collapse of FTX and its trading operations.”

Orthogonal Trading had received a loan of 31 million in US dollars and 4.9 million in a token called wrapped ether, according to Maple. Maple issued a statement saying it was declaring all of its active loans to Orthogonal Trading in bankruptcy.

Previous Articles:

• Foundry concentrates one-third of hashrate among Bitcoin mining pools
• Rumors about a “Twitter Coin” make the Dogecoin community explode
• Avalanche is strengthened by the partnership with Alibaba Cloud
• Why GMX threatens Uniswap’s leadership
• Terra Luna Classic: Becoming interoperable again in the Cosmos ecosystem