As Liquid Global became a victim of a major hack on their systems and lost nearly $90Million in crypto assets, the company has now managed to obtain a loan of $120Million from Cryptocurrency Exchange, FTX.
Japan-based crypto exchange Liquid Global suffered a great deal when it became a target to a group of hackers and losing about $90Million with crypto assets. Crypto Exchange FTX decided to partner up with Liquid Global in hopes of bringing up new trading opportunities and better products for users while also enhancing the cryptocurrency system worldwide. COO of Liquid Global, Seth Melamed, gave remarks about the collaboration, stating that the partnership is very important as it will enable both sides to bring new products and services for the people of Japan and other parts of the world as well. Seth also said that this partnership would definitely give both companies a chance to bring innovation into the world of finance by utilizing the power of blockchain technology.
In regards to an announcement made, Experts from companies will work together to bring out high-quality services and products. With the combined power of financial knowledge of FTX and the regulation frameworks provided by Liquid, the resulting products and services will help both companies to obtain significant growth in the crypto space.
Solid Regulation Statuses
Ever since Liquid Global came into existence, they have always taken regulations very seriously and has been active in getting regulatory approvals in all of the current and future locations they are working on, helping them to achieve a formidable reputation in the financial space. As of now, the company successfully holds an official license from the Financial Agency of Japan and is now working on getting an operating license from the Authorities in Singapore as well.
FTX Point of View
CEO of FTX, Sam Bankman-Fried, also commented on the partnership, saying that by working together, both companies can solidify their beliefs in crypto regulations and that customer analysis is definitely something that is going to be big in the coming time. The Partnership will help out Liquid to power up undergoing projects using the funds and also boost the company’s liquidity. The provided funds from FTX will also help out Liquid to improve the balance sheet and improve regulation-based metrics.
