According to the latest reports, today’s crypto rally is growing the reserves of several crypto companies that went bankrupt. One of these companies, FTX has MATIC and ETH worth $63 million that it can still use in its reserves.
FTX’s reserves rise by $63 million: MATIC, ETH, USDC on the list
The cryptocurrency market is witnessing double-digit rallies following the crisis in the global banking sector. Market giants Bitcoin (BTC) and Ethereum (ETH) have gained over 15% and 10% respectively in the last 24 hours. Meanwhile, the total value of the market has reached over $1 trillion.
Crypto reserves of crypto companies that went bankrupt during the rally on March 13 are also growing. FTX’s crypto portfolio has grown by nearly $63 million. Apart from Euler Finance (EUL) and UNUS SED LEO (LEO), other cryptocurrencies in the exchange’s portfolio recorded high gains.
FTX management consolidates firm assets from different on-chain sources of bankruptcy in wallet. According to the data, the exchange’s native token FTT was responsible for most of the earnings. FTT has rallied around 10% at one point in the past 24 hours, adding $24.25 million to the bankrupt exchange’s portfolio.
Other reserves, such as the embattled USD Coin (USDC), added $3.60 million to FTX’s portfolio. ETH reserves increased by $3.78 million, while Polygon (MATIC) increased by $3.55 million. Uncertain altcoins like Boba Network (BOBA) contributed more than $1.6 million to the firm’s overall portfolio, respectively. On the other hand, a wallet affiliated with its sister company Alameda Research raised $21.19 million mainly from BitDAO (BIT), USDC and ETH assets.
Celsius and Voyager assets exceed $50 million each
A look at the crypto reserves of other bankrupt crypto companies like Celsius Network and Voyager shows that they are also benefiting from the rally.
The value of a Celsius-affiliated wallet increased by $133.15 million to over $1 trillion. The bankrupt company’s earnings came mostly from Staked Ethereum (stETH) reserves, which increased by $82.36 million. Celsius (CEL) added $29.32 million, while ETH added nearly $10 million.
Besides that, its other assets are USDC, Chainlink (LINK), Wrapped Ethereum (wETH), etc. over one million earnings.
Meanwhile, data shows that Voyager Digital’s assets have increased by $50.65 million. “The bankrupt firm was liquidating its assets against USDC and had previously recorded a loss of approximately $45 million,” Arkham Intelligence said in a tweet on March 11.
However, USDC assets, which regained price stability during Voyager’s last rally, increased by $26.88 million, while Ethereum and Shiba Inu (SHIB) assets increased by $15.05 million and Shiba Inu (SHIB) by $3.30, respectively. As Kriptokoin.com, we reported that the company liquidated some of its ETH and SHIB reserves last week.
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