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

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Cryptocurrency 7 hours ago (Nov 18, 2022 06:20PM ET)

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

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

The Ontario Teachers’ Pension Plan has also had to swallow some losses. According to an announcement made by the Canadian-based teachers’ pension fund, it invested $75 million into FTX International and its US entity, FTX.US. The Ontario Teachers’ Pension Plan shared that the investment “represented less than 0.05%” of its total net assets and “equated to ownership of 0.4% and 0.5% of FTX International and FTX.US, respectively.” Although disappointed by its losses, the pension plan asserts that “the financial loss from this investment will have limited impact on the Plan, given its size relative to our total net assets and our strong financial position.”

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