Maple Finance cuts ties with Orthogonal Trading over alleged misrepresentation of finances By Cointelegraph
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Blockchain-based institutional capital marketplace Maple Finance announced on Dec 5 that it plans to cut all ties with Orthogonal Trading due to alleged misrepresentation of finances following the collapse of FTX.
According to Maple Finance, it decided to cut all ties with the trading firm because it misrepresented its finances over the last four weeks and only recently admitted on Dec. 3 that it could not meet loan repayments. This means the company had been “operating while effectively insolvent,” making it impossible for it to continue operating without outside intervention.
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Blockchain-based institutional capital marketplace Maple Finance announced on Dec 5 that it plans to cut all ties with Orthogonal Trading due to alleged misrepresentation of finances following the collapse of FTX.
According to Maple Finance, it decided to cut all ties with the trading firm because it misrepresented its finances over the last four weeks and only recently admitted on Dec. 3 that it could not meet loan repayments. This means the company had been “operating while effectively insolvent,” making it impossible for it to continue operating without outside intervention.
Continue Reading on Coin Telegraph
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