Liquid Global, a recently hacked exchange, has secured a $120 million loan from FTX

• The crypto exchange FTX, which was established and is run by billionaire Sam Bankman-Fried, would lend $120 million to Liquid Global, which was hacked last week
• The funding will also strengthen Liquid’s financial sheet and, as a result, its key regulatory metrics, bolstering its continued licensing possibilities in important countries such as Japan and Singapore, Liquid Global stated
• Quoine, the parent business of Liquid Global, was one of the first exchanges in Japan to be granted a crypto asset operating license under the Payment Services Act

The crypto exchange FTX, which was established and is run by billionaire Sam Bankman-Fried, would lend $120 million to Liquid Global, which was hacked last week. The hacking of Liquid Global last week resulted in the loss of more than $90 million. The assault was believed to be directed against the exchange’s multiparty computation (MPC) system of custody at the time. According to a press statement from Liquid Global, the debt funding obtained from FTX will be utilized to strengthen Liquid Global’s financial position, accelerate capital generating projects, and offer liquidity. 

The funding will also strengthen Liquid’s financial sheet and, as a result, its key regulatory metrics, bolstering its continued licensing possibilities in important countries such as Japan and Singapore, Liquid Global stated. This partnership with Liquid allows both companies to enhance and reaffirm their view that crypto regulation and understanding your client is a vital part of our industry’s future, stated Bankman-Fried. Quoine, the parent business of Liquid Global, was one of the first exchanges in Japan to be granted a crypto asset operating license under the Payment Services Act. Quoine Pte, Liquid’s Singapore affiliate, has applied to the Monetary Authority of Singapore (MAS) for a Payment Services Act license.

Quoine, the parent business of Liquid Global, was one of the first exchanges in Japan to be granted a crypto asset operating license under the Payment Services Act. Quoine Pte, Liquid’s Singapore affiliate, has applied to the Monetary Authority of Singapore (MAS) for a Payment Services Act license. The financing comes after Liquid was hit by a massive attack last Thursday when the exchange’s hot wallet was hacked. The Liquid hackers took a total of $97 million in different cryptocurrencies, including Ether (ETH), XRP, stablecoins, bitcoin (BTC), and other tokens, according to estimates by blockchain analytics firm Elliptic.