FTX Incident Affects Turks’ Favorite Metaverse Coin: 50 Percent Drop!

The Metaverse coin project, which is also closely followed by the Turks, fell in the FTX crisis. Star Atlas CEO made a statement on his Twitter account. Solana-based Star Atlas announced that its metaverse coin lost its value after the collapse of FTX.

Favorite metaverse coin project lost half price

Star Atlas was one of the companies affected by the sudden collapse of the Bahamas-based crypto exchange. According to CEO Michael Wagner, Star Atlas development studio ATMTA had substantial cash in FTX. Wagner pointed out that the company has a “strong balance sheet” despite the incident. Wagner stated that FTX, like everyone else, damaged their trust. Later, the metaverse game Star Atlas apologized to its staff and users.

Wagner said in a statement on his account:

I believed we were hiding our cash in a credible and sound institution. I trusted a person who I believed held a prestigious place in the branch. Obviously, this belief has completely disappeared. Terrible timing. Failure to take sufficient measures to respond quickly to these procedural events has put our situation in danger. I am responsible here. I’m really sorry for that.

As time goes on, more details about the FTX event are emerging. The Metaverse coin project is currently trading at $0.00283706.

Scoot&Scoot questions the FTX crisis

International law firm Scott & Scott, which focuses on complex litigation in the US and Europe, is investigating the FTX crisis. According to the information conveyed, it is questioned whether its executives violated US securities. The law firm urged investors of the exchange’s local crypto altcoin, FTT, to contact its attorney, Sean Masson.

You have purchased FTX securities (for example, FTT tokens or high-yielding accounts). However, if your FTX investments have been wasted, you can reach Scott & Scott attorney Sean Masson at (212) 822-5522. It is recommended that you contact us via e-mail address.

As we have reported as Koindeks.com; It also adds further to Sam Bankman-Fried and FTX’s legal considerations. Top US law firm Rosen has announced that it has begun investigating the collapse of FTX. The rationale behind the move will prompt the company to file a class action lawsuit against the former leading cryptocurrency exchange and its founder to help investors recover their losses. However, the United States Department of Justice announced earlier this week that it is investigating the matter to determine whether the exchange is misusing customers’ funds.

On the other hand, Tether started freezing FTX-contacted USDT accounts based on the requests of the authorities.

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