DeFi platform Oxygen is in difficulties since FTX holds most of the tokens

DeFi brokerage Oxygen explained FTX is the bulk holder of tokens in its ecosystem and is trying to find legal support.

The recognize from the morning of November sixteen reads:

one/ The MAPS and Oxygen teams are shocked by the occasions surrounding the bankruptcy proceedings of the FTX Group.

— Oxygen – Decentralized Prime Brokerage (@Oxygen_protocol) November 15, 2022

“We have been shocked by developments relating to FTX’s bankruptcy proceedings.

While FTX Group does not personal any stake in Oxygen, it does hold a sizeable percentage of MAPS/OXY tokens and serves as custodian of in excess of 95% of the company’s complete ecosystem provide of.us tokens, each locked and unlocked.

Oxygen is a DeFi brokerage protocol, developed on prime of Solana and applying Serum’s on-chain infrastructure. OXY is the governance token of the Oxygen protocol, MAPS is the token employed for the 2nd model of the offline mapping mobile app Maps.meannounced integrated with Oxygen in 2021.

The sister firm of FTX is Alameda Research when invested $forty million in Oxygen in February 2021 with Multicoin Capital, Genesis Capital and CMS.

“We are examining all options on how to protect the MAPS and OXY ecosystem and have engaged legal counsel to assist in this process,” additional Oxygen.

Song last message on Maps.me it is three/ten.

Also this morning, The Wall Street Journal reported that BlockFi is getting ready to file for bankruptcy, due to its solid association with FTX, along with a variety of other relevant organizations.

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