Shares in Coinbase came beneath renewed marketing force this 7 days on issues about spillover from FTX’s collapse previously this thirty day period. But lots of other firms are also uncovered to FTX’s failure. Strategists at Morgan Stanley on Nov. 17 compiled a list of 63 establishments that may well be uncovered to losses or have their capital stuck on FTX’s platform. The investment lender explained it sourced its information by way of general public disclosures, media experiences and its have exploration. Providers named incorporate loan companies, traders, exchanges and traders. FTX owes its lenders at the very least $3.1 billion , in accordance to its own submitting with regulators last week. The underneath table shows 19 of the organizations determined by Morgan Stanley as getting significant publicity to FTX. Of the 19 providers outlined, 15 have confirmed some exposure to FTX (despite the fact that figures may well differ from Morgan Stanley’s estimates). Paradigm, Layer Zero and Ikigai Asset Management did not promptly react to CNBC’s request for comment. Venture cash agency Sequoia Cash was the most exposed entity on the record, with $213.5 million at hazard across two funds. Sequoia has claimed it will mark down to zero its expense in FTX. Temasek, the Singaporean point out-owned keeping firm, mentioned it experienced invested much more than $200 million in FTX and FTX’s U.S. subsidiary. The fund said in a assertion that its investment decision thesis was “to invest in a main electronic asset trade … To make clear, we at this time have no direct exposure in cryptocurrencies.” Some detailed businesses, this sort of as Mike Novogratz’s crypto-concentrated hedge fund Galaxy Digital , Voyager , Coinbase and Softbank , also highlighted superior on Morgan Stanley’s listing of uncovered firms. The four firms have $194.8 million at hazard in whole, according to the lender. Morgan Stanley also named Ledn, BlockFi, Amber Team, Skybridge Funds and Selini Money as among the the cash with likely exposure to FTX, but where by values experienced not been disclosed. The risk of contagion from the FTX fiasco remains, Morgan Stanley mentioned, including that “crypto exchanges will keep on to see outflows in the around term as institutions and retail traders either provide property or shift their holdings into offline wallets.” Hopes of recovery for some collectors were lifted Tuesday, nevertheless, soon after FTX described that it had located $1.24 billion hard cash ahead of a U.S. courtroom listening to.
