By its exposure to Shiba, is very scary


Impossible to miss this week: the second largest cryptocurrency exchange in the world, namely FTX, is bankrupt. Investors realized that the firm was basing a large part of its assets on its own token, a necessarily questionable strategy and very quickly at the origin of a massive flight of capital. This would amount to at least six hundred million dollars at the time of writing these lines, but the fate of the app is not yet fixed.

It was enough for many players in the crypto market to look into the question of the transparency : it is time to know where the funds of the exchanges hosting our wallets are stored. The good news is that the message seems to have already been heard. Binance CEO affirms thus working on the file to reassure its supporters, while has just published its own statement. This is supported by Nansen, a DeFi-enabled portfolio visualization solution backed by none other than Accel (BlaBlaCar, Webflow, Segment) and Andreessen Horowitz (Airbnb, Lyft, Pinterest). Seriously, then.

Watch out for volatility!

To everyone’s surprise, however,’s assets are made up of… 22.18% SHIB. Yes, we are talking here about the satirical cryptocurrency referring to the other originality that is the Dogecoin. Nothing less solid therefore, even if for once the token of the platform is not the one on which it has bet the most. Indeed, for total capital of more than 2.5 billion dollars according to Nansen, only around 74.42 million are based on CRO. That is a little over 3%, for the moment. assets

© Nansen

A little safer, Bitcoin represents’s main resource in virtual currency with nearly 29% of its total portfolio. Ether comes third with 17.4%. But on the side of stablecoins, bad surprise there too: we would not count than 11.19% of funds in USDT or USDC.

Here we go again…

Obviously, these figures did not fail to challenge the public after their release. So that CRO is now only worth $0.065, down from $0.1 less than a week ago (-45%).

Since its inception, however, has known to diversify a minimum of its activities with some external growth, as Sarbacane also does. The firm has notably invested in Braavos, Boba Network or Sender Wallet and offered itself Nadex in 2021 or even PnLink last August, for an amount that remained undisclosed.

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