CoinShares 2022 Income Plunge 97% To $3.6 mn
CoinShares (CS.ST), a European digital asset manager, reported total comprehensive income of GBP 3 million in 2022, down 97% from 2021, as the firm felt the impact of FTX’s collapse and its ramifications across the crypto industry.
CoinShares posted losses of GBP 37 million in the fourth quarter, coinciding with FTX’s bankruptcy, but finished the year in the black by just over GBP 3 million. In 2021, the company earned GBP 113.4 million.
CoinShares stated that it had GBP 26 million in assets on FTX when the crypto exchange suspended withdrawals. SBF’s exchange failed in November, with the company declaring bankruptcy and owing $3.1 billion to its top 50 creditors.
CoinShares is also listed on the OTCQX of the OTC Markets under the ticker CNSRF.
(With inputs from Shikha Singh)
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