After a first announcement made last week regarding the call for lThe FTX exchange, Quantia, the cryptocurrency investment platform, recently issued a new statement alluding to the effect that this call originated, in which it presented a new status of its operations.
According to what was issued in the first communication by Quantia, the company owned approximately 35% of its assets in FTX, in the main cryptocurrencies traded, such as BTC and ETH. The company, to ensure that the percentage in question did not suffer an increase due to price variations, began to “hedge these digital assets in the market,” as reported.
According to the situation, the managers of the cryptocurrency investment platform, They determined that the “impact” generated before it must be distributed in all accounts and tokens in an equitable manner for all its users. That is, the company will issue a token, under the QIA ticket, which will have the value of the affected balance, which will be bought again by Quantia in the future, at a price of 1.00 USDT.
Quantia co-founder, company that operates in Argentina and other Latin American countries, Miguel Schweizer highlighted the position of the platform in this framework:
“In this complicated context, our commitment is to work to fully mitigate the impact on each of our clients; unlike our competitors, who have completely stopped their operations,” Schweizer said.
He also explained that, The “repurchase” of these assets will be carried out with “capital contributions from partners, capitalization rounds, fees received for trading and interest received for credits received.”
On the other hand, they also indicated the opening of a new secondary market, where users will have the option (whoever they want), to liquidate the tokens at the current market price, or exchange them for USDT, in addition to the possibility of converting them into equity of Quantia Holding Group LTD.
The platform reported that a subsequent announcement will be made where it will share a document detailing the legal terms of the accredited tokens and the methodology to perform the calculations.
Quantia: statement of operations situation
For now, Quantia keeps on-chain withdrawals suspended. But Quantia-Internal network transfers, and trading within the platform are enabled. Likewise, the yields of the interest account will continue to be maintained at 0.00%, while operations are reestablished in the lending / borrowing market.
They also stated that deposits and withdrawals will partially resume as long as the liquidity placed by the company enters, however, they recommend not making any type of deposit until all the services offered by the platform are normalized.
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