Com2us Group announced on the 15th that there was no financial loss at the group level in relation to the recent FTX bankruptcy.
There is no financial loss at all because Com2us Group such as Com2us Holdings has not invested in the FTX exchange, Com2us said. “The vague speculation that Com2us Group, which led the XPLA project, may have lost money because of FTX is different from the truth.”
Com2us held a coin exchange disclosure (IEO) of its own virtual asset, C2X, at FTX in March. Since then, when the “Tera and Luna” incident broke out, it has launched its own mainnet Xpla to migrate C2X tokens to Xplacoin. Concerns have been raised that investor losses will be inevitable as much of C2X is tied to FTX as FTX is the first place where Com2X sold C2X.
In response, Com2us stressed that XPLA, which was blocked from withdrawing due to the FTX crisis, is insignificant compared to the total volume. “According to CoinMarketCap, the total distribution volume of XPLA coins is 85.23 million, which is 4.26 percent of the total 2 billion issued by the foundation,” Com2us said. “XPLA, which has been blocked by the FTX crisis, accounts for 1.6% of the total volume, and the volume of individual investors is less than 1%.
Com2us announced a policy to support individual investors by using the community’s reserve volume. It is explained that the XPLA of FTX wallet does not affect the market by collecting or completely incinerating it as a reserve. Com2us added, “We are also considering other effective measures.”
Meanwhile, the XPLA Foundation will share additional decisions related to the FTX crisis through social networking services (SNS) channels such as official Telegram, Medium, and Twitter.