Data: 25% to 40% of crypto hedge funds have a certain degree of direct exposure to FTX or FTT

ChainCatcher news, according to Blockworks, Crypto Fund Research CEO Josh Gnaizda stated in an email sent to institutional investors that 25% to 40% of cryptocurrency-focused hedge funds have some degree of direct exposure to FTX or FTT. The average exposure of hedge funds to the troubled exchange that filed for bankruptcy last week accounts for 7% to 12% of assets under management.

Gnaizda expects that the losses for crypto hedge funds and crypto venture funds directly affected by the FTX collapse will exceed $1 billion, potentially reaching as high as $5 billion. "(Blockworks)"