Sino Global Capital Files $67.3 Million Claim Against FTX Trading

Sino Global Capital, led by Matthew Graham, has filed a claim against FTX Trading on behalf of its Liquid Value fund. The fund, which aimed to raise $200 million, partnered with FTX and targeted high net worth individuals. Initially, Sino Global had a limited exposure to FTX exchange, but the fund had already raised $90 million with FTX as an anchor investor. The fund’s focus has been on infrastructure and gaming, and it remains active with the Cayman Islands Monetary Authority. Sino Global expressed regret and disappointment in FTX following its collapse. In a recent development, Sino Global hired former FTX COO Constance Wang as its head of gaming.

Key Points:

– Sino Global Capital has filed a $67.3 million claim against FTX Trading on behalf of its Liquid Value fund.
– The fund aimed to raise $200 million and partnered with FTX, targeting high net worth individuals.
– The fund had raised $90 million with FTX as an anchor investor.
– Sino Global’s investing efforts have focused on infrastructure and gaming.
– Former FTX COO Constance Wang has joined Sino Global as its head of gaming.

Hot Take:

Sino Global Capital’s claim against FTX Trading highlights the risks and challenges in the crypto industry. Despite its initial trust in FTX, Sino Global regrets its decision and is now seeking compensation. This case serves as a reminder for investors to carefully assess their partnerships and thoroughly evaluate the potential risks involved. The hiring of former FTX COO Constance Wang shows Sino Global’s commitment to the gaming sector, and it will be interesting to see how this move contributes to the fund’s future success.