The FTX contagion: Which companies were affected by the FTX collapse?

cointelegraph.com:

While the FTX collapse may have had a severe effect on the broader crypto market, some companies bore the brunt of the impact and were directly hit by the storm that the embattled crypto exchange brought. 

Here are some of the affected companies that Cointelegraph tracked up to Nov. 17, 2022.

Institutional trading firm Genesis announced on Nov. 11 that it had $175 million in locked funds within the firm's trading account in FTX. However, the company noted that this does not have an impact on its market-making activities. Furthermore, the trading firm clarified that this exposure is not material to the business and won't get in the way of its operations.

As part of our goal in providing transparency around this week’s market events, the Genesis derivatives business currently has ~$175M in locked funds in our FTX trading account. This does not impact our market-making activities.

While the company had trading relationships with the crypto exchange, the firm also clarified that it does not have an ongoing lending relationship with FTX or Alameda Research.

Blockchain financial services company Galaxy Digital recently disclosed its $76.8 million exposure to FTX. Within the amount, the firm highlighted that $47.5 million is already in the process of being withdrawn. Despite the exposure, the company highlighted that it still has $1.5 billion in liquidity. This includes $1 billion worth of cash and $235.8 million in stablecoins which can cover its losses.

In a letter addressed to its limited partners, venture capital company Sequoia Capital announced that its $213.5 million investment in companies FTX and FTX US is now worth $0. The firm admitted that the FTX debacle spurred a solvency risk. Despite this, the venture capital firm