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Crypto market maker Auros raised $17 million from new investors as it seeks to fix the balance sheet holes caused by the FTX collapse.
High-frequency trading firm Vivienne Court, Nasdaq-listed digital asset mining firm Bit Digital, Trovio, Epoch Capital, Primal Capital and senior alumni of market-making giant Optiver are investing in the fundraising, Auros said in a statement.
Marcel Klooss, co-founder of Vivienne Court, and Hughes Ching, co-founder of Bit Digital, will join Auros’ board of directors, the company said.
The new capital injection will help Auros complete the interim liquidation and restructuring process undertaken late last year, co-founder Benjamin Roth said in an email response to questions from The Block. The company ran into financial problems and missed several loan repayments after about $20 million of its assets got stuck on the FTX platform after the exchange filed for bankruptcy.
“We are also well positioned to expand our strategic market creation business and help create healthy and liquid markets for all of our partners,” Roth wrote. “It’s also important to note that business is continuing to operate as normal during this process, and we are continuing to support all of our partners throughout this time.”
The latest round of funding will also be used to expand the company’s derivatives solutions and high-frequency trading business, said the Auros statement.
© 2023 Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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