Sources: QCP Capital has an exposure of over $97 million to FTX

ChainCatcher news, according to a report by The Block citing sources, Singapore crypto fund QCP Capital has an exposure to FTX of at least $97 million. To recover some cash, QCP is attempting to sell its debt to distressed asset buyers.

Last month, QCP stated that it held exposure to FTX but did not disclose the scale of the exposure. A spokesperson for the company at the time said there was enough equity to absorb the position's impairment, and the impairment would not affect clients or counterparties; withdrawals remain open, trading continues as usual, and the company's business remains profitable. (The Block)