November 29, 2022

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Nickel Digital, Metaplex, and others continue to feel the effects of Cointelegraph’s FTX collapse

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Nickel Digital, Metaplex and others continue to feel the effects of the FTX collapse

Nickel Digital Asset Management isn’t the only company feeling the effects of FTX’s collapse and bankruptcy. NFT protocol Metaplex also fired “several members of the Metaplex Studios team” due to the “indirect effects” of the crypto exchange FTX collapse. Metaplex Studios co-founder and CEO Stephen Hess (NYSE:) shared in a thread on Twitter:

The Ontario Teachers’ Pension Plan also suffered some losses. He has invested $75 million in FTX International and its US unit, FTX.US, according to an announcement by the Canada-based Teachers’ Pension Fund. The Ontario Teachers’ Pension Plan said the investment represented “less than 0.05%” of its total net assets and “represented ownership of 0.4% and 0.5%, respectively, of FTX International and FTX.US.” Although the pension plan is disappointed by its losses, he affirms that “given its size relative to our total net worth and our strong financial position, the financial loss from this investment will have a limited impact on the plan.”

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