Industry Updates

CoinShares gains from FTX resolution

Monday, June 24, 2024

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Opalesque Industry Update - CoinShares International Limited, a European investment company specialising in digital assets, has sold its FTX claim. The agreement, signed on June 24 and subject to customary closing conditions, will yield a recovery rate of 116% net of broker fees, resulting in a return of 31.32 million (US$39.6m) on a 26.6 million (US$33.6m) claim.

Key Highlights:

• Recovery Rate: Upon completion, CoinShares will have achieved a recovery rate of 116% on its FTX claim, translating to a return of 31.32 million.

• Shareholder Benefits: The successful claim sale will significantly enhance the Group's financial position, creating opportunities to provide increased returns to our valued shareholders.

• Client Advantages: The increased financial flexibility resulting from this transaction will allow CoinShares to reinvest in growth opportunities, further strengthening our market position. Clients can anticipate continued innovation and enhanced services as the Group leverages this capital enhancement to drive expansion and development within the digital asset sector.

Jean-Marie Mognetti, CEO of CoinShares, commented: "The resolution of the FTX situation has been highly favourable for CoinShares. This exceptional recovery rate is a testament to the diligence and expertise of our team. We remain dedicated to leveraging this success to reward our shareholders and to drive further growth and innovation within the digital asset industry."

ABOUT COINSHARES
CoinShares specialises in digital assets and delivers a broad range of financial services across investment management, trading and securities to a wide array of clients that includes corporations, financial institutions and individuals. Focusing on crypto since 2013, the firm is headquartered in Jersey, with offices in France, Sweden, Switzerland, the UK and the US. CoinShares is regulated in Jersey by the Jersey Financial Services Commission, in France by the Autorit des marchs financiers, and in the US by the Securities and Exchange Commission, National Futures Association and Financial Industry Regulatory Authority. CoinShares is publicly listed on the Nasdaq Stockholm under the ticker CS and the OTCQX under the ticker CNSRF.

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25.Sep.2023 European crypto asset manager Coinshares unveils new crypto hedge fund division in U.S.

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