Crypto exchange Bullish says it has no exposure to FTX

Crypto exchange Bullish has said it does not have any exposure to now-bankrupt FTX and Alameda Research, and expects FTX’s bankruptcy to have no impact on Bullish’s operations. The exchange is operated by Bullish (GI) Limited and regulated by the Gibraltar Financial Services Commission.

See related article: Who is exposed to FTX? A running compilation on a rapidly moving target

Fast facts

• “During early November 2022, market volatility in the prices of digital assets spiked in connection with apparent liquidity issues at FTX and Alameda Research and their potential bailout or bankruptcy. Bullish currently has no counterparty credit exposure to these firms and expects no material impact on its plans for business operations,” the company said in a statement shared with Forkast via email.

• Bullish also does not have any exposure to Genesis, or any other corporations that have recently halted withdrawals or declared bankruptcy, according to Chairman Brendan Blumer’s announcement on Twitter on Nov. 17.

• Bahamas-headquartered FTX, once the second-largest crypto exchange in the world and often a white knight for troubled crypto businesses, filed for bankruptcy on Nov. 11.

• That has since affected several crypto businesses including Genesis, BlockFi and AAX exchange, while Singapore’s state investment fund Temasek International is writing off its US$275 million investment in FTX.

See related article: Crypto.com claims user funds safe despite ‘accidental’ Ether transaction

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