The Auros project has raised $17 million to complete the restructuring process and close the hole in the balance sheet caused by the collapse of FTX.
1/ For the past 4 months, Auros has been working tirelessly to strengthen our core operations and continue supporting our partners.
We’re thrilled to announce that we’ve just completed a US$17m funding round, led by VivCourt, along with participation from @BitDigital_BTBT 👇🧵
— Auros (@Auros_global) March 21, 2023
Investors include Vivienne Court, Bit Digital, Trovio, Epoch Capital, Primal Capital, and partners from venture capital giant Optiver.
The company’s board of directors will include Vivienne Court co-founder Marcel Clossy and Bit Digital CEO Hughes Ching.
At the end of 2022, the company ran into financial problems and missed several obligations payments after $20 million was stuck on the collapsed FTX exchange. Auros had to file for restructuring in the bankruptcy court of the British Virgin Islands.
“We did not pay immediately because we were going to return all the funds at once. Our company is profitable, so we just needed to buy time to ensure that all creditors are treated fairly and equally,” said Auros co-founder Benjamin Roth.
The head of the market maker noted that throughout the trial, the company’s business continued to function normally.
Auros said in a statement that the investment will also be used to develop derivatives services and high-frequency trading.
Earlier, FTX postponed the date of the auction for the sale of the LedgerX exchange for the third time. This time the auction is scheduled for April 4th.
Recall that in March 2023, Alameda Research Ventures, the investment arm of the collapsed stock exchange, entered into an agreement to sell a stake in venture capital firm Sequoia Capital to Abu Dhabi’s sovereign wealth fund for $45 million.
Prior to this, the current head of FTX, John Ray, announced a “significant deficit” in the capital of the platform.
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