Matrixport's BTC Fixed Income Product Affected by FTX's Collapse

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The company has no risk of bankruptcy the spokesperson for Matrixport told CoinDesk.

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The Matrixport crypto services company's fixed income product linked to bitcoin

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 was negatively affected due to the sudden decline of the cryptocurrency exchange FTX.

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"The Products of Matrixport which have been adversely affected because of the failure of take withdrawals out of FTX include

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The BTC Fixed Income Products (Including BTC Fixed Income Products and Smart Trend Products that use 

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BTC Fixed Income Product as their underlying in the Victoria BTC Fund Products and an average of 79 clients suffering losses as a result.

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 " Matrixport said in an email to customers early Friday.

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The email further stated that clients who invested in the company's other products will not be affected by the turmoil.

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FTX stopped crypto as well as withdrawals using fiat early this week, after customers tried to obtain the direct control of their funds in one go.

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Matrixport stated that their sales and operations staff reached out directly to each of its 79 affected

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clients and updated them on the current situation and the proposed actions.

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Ross Gan, head of public relations at Matrixport Ross Gan, head of Matrixport's public relations department, told CoinDesk that

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"79 customers suffered losses as a result of exposure to three products that are that we offer and were informed of the losses.

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Matrixport is operating as normal and does not face any chance of going into bankruptcy due to developments at FTX or Alameda."

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