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Virtu continues to see crypto as a “long-term growth opportunity”

Virtu continues to see crypto as a

Despite the decline in prices and the failure of several industry institutions, Virtu Financial is still committed to the cryptocurrency space.

Following FTX’s collapse and bankruptcy, the company didn’t sustain any significant losses.

During the company’s fourth-quarter earnings call, chief executive Doug Cifu stated that trading giant Virtu Financial is still committed to the cryptocurrency market. 

As a designated market maker for bitcoin exchange-traded funds in Canada, the market-making company has transacted on a number of exchanges. 

The firm’s long-term plans to operate in the cryptocurrency space have not been impacted by the collapse of FTX and Alameda Research, according to Cifu, who also noted that Virtu continues to “view crypto as a long-term growth opportunity.” 

Considering recent events, Cifu continued, “I’m proud to say that we managed the risk surrounding the events of this quarter, as you would expect from Virtu.” “When the FTX news broke, we had approximately $8 million in deployed fiat and coin balances across a number of venues, but we acted quickly and suffered no material losses,” the company said.

Virtu Financial CEO Doug Cifu stated during the company’s fourth-quarter earnings call that the company is still committed to the crypto market.

The market-making firm has traded on multiple exchanges and served as a designated market maker for bitcoin exchange-traded funds in Canada. 

The collapse of FTX and Alameda Research has had no impact on Virtu’s long-term plans to operate in the cryptocurrency space, according to Cifu, who notes that Virtu “continues to view crypto as a long-term growth opportunity.” 

Considering recent events, Cifu continued, “I’m proud to say that we managed risk around the events of this quarter, as you would expect from Virtu. “When the FTX news broke, we had roughly $8-figure fiat and coin balances deployed across a number of venues, but we acted quickly and did not suffer any material losses,” the company said.

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