Europe’s largest cryptocurrency company CoinShares has recorded a loss of £17 million ($21.4 million) due to the collapse of Terra UST.
“We recorded an exceptional loss from our DeFi operations, it was £17 million on the liquidation of our stake in UST,” said Jean-Marie Mognetti, the firm’s CEO.
Mognetti also added that the situation was a “humiliating lesson” for the company.
Throughout 2021, CoinShares’ net loss increased from £1.4 billion to £2.4 billion.
Holpop News
Holpop News
CoinShares records $21.4 million loss due to UST investment
posted on May 31, 2022 by holpop in Blockchain
