Auros Global Suffers from FTX’s Bankruptcy, But Creditor Takes Steps to Restructure Bad Debts

02/16/2023 22:48 • Tech Trends • 84 views

It is reported that the crypto trading company Auros Global is the victim of the bankruptcy of the crypto exchange FTX. Its main creditor, M11 Credit, said in a statement on Wednesday that it had reached a resolution to restructure the bad debts of its blockchain-based loan agreement Maple Finance.

Auros Global restructured Maple Finance’s $18 million debt

Analysis based on this information:

Auros Global, a crypto trading company, has reportedly faced the consequences of the bankruptcy of crypto exchange FTX. As per the reports, Auros Global is a victim of FTX’s bankruptcy, and it suffered due to the debts owed to it by FTX. However, there’s good news for Auros Global and its other creditors. In a recent development, M11 Credit, one of Auros Global’s main creditors, has announced that it has taken steps to restructure the bad debts of its blockchain-based loan agreement Maple Finance.

The news of FTX’s bankruptcy has sent ripples throughout the crypto community, and Auros Global is not the only company that has been affected by it. FTX, one of the most popular crypto exchanges, has been facing liquidity issues for some time now, which ultimately led to its bankruptcy. FTX was one of Auros Global’s main trading platforms, and the bankruptcy has hit the company hard.

Nevertheless, M11 Credit’s decision to restructure the bad debts of its blockchain-based loan agreement is a silver lining for Auros Global and other creditors. This means that the creditors will be able to get back some of their investments, and Auros Global will be able to recover some of its losses.

The restructuring of the bad debts is also good news for Maple Finance, as it will be able to get back some of the money it had lent to FTX. Maple Finance is a blockchain-based loan agreement that provides loans to companies in the crypto space.

In conclusion, Auros Global’s situation highlights the risks involved in crypto trading and the need for caution while investing in the crypto market. However, the steps taken by M11 Credit to restructure the bad debts of its blockchain-based loan agreement Maple Finance offer some hope to Auros Global and other creditors. The restructuring could create a way for the creditors to recover some of their funds, and it’s a positive development for the crypto industry as well.

Overall, this highlights the importance of creditworthiness of various platforms and how interdependencies among them in cryptospace could have cascading impact. Companies should do their due diligence before getting credits so as to limit their exposure to such incidents.

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Auros Global Suffers from FTX’s Bankruptcy, But Creditor Takes Steps to Restructure Bad Debts

Auros Global restructured Maple Finance’s $18 million debt

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