All those impacted by recent events are in our thoughts. We hope everyone is able to recover their assets as soon as possible.
Covalent has no exposure to FTX and does not hold any portion of our treasury on the FTX exchange. Alameda Research was a private sale participant from Covalent’s Seed private sale with less than 0.18% of the CQT supply. Alameda Research was also one of our market makers as of June 2021, a relationship which we discontinued in 2022. Any CQT related to the market maker relationship has been returned. There is no other business or involvement between Covalent and Alameda Research or FTX.
Learn more: https://www.covalenthq.com/blog/covalent-ftx-press-release/
