Virtu Finance said that it will remain committed to the cryptocurrency market, despite the collapse of large firms in the industry and low prices.
Virtu did not lose any money after the collapse of FTX, one of the crypto money exchanges. However, the firm does not seem to have lost faith in the crypto market.
Virtu Sees Crypto Market As A Long-Term Growth Opportunity
Virtu Financial said during the company’s fourth-quarter earnings announcement that CEO Doug Cifu still remains committed to the crypto market.
Acting as a market maker, the company was traded on several exchanges and assumed the role of market maker for Bitcoin exchange-traded funds in Canada.
Cifu stated that Virtu continues to see cryptocurrency as a long-term growth opportunity, noting that the collapse of FTX and Alameda Research did not affect the firm’s long-term plans to operate in the cryptocurrency space.
Cifu said in his statement:
“Following recent events, I am proud to say that we have managed the risk associated with events this quarter, as you would expect from Virtu. Even though we had a fiat and coin balance of around 8 figures deployed in several locations when FTX news broke, we moved quickly and didn’t suffer any financial losses.”
