US asks firms to disclose exposure to beleaguered crypto entities

The SEC, in a letter to the companies, said recent bankruptcies and financial distress among crypto asset market participants have caused widespread disruption in those markets.
Representative image
Representative image

SAN FRANCISCO: In the wake of the collapse of crypto exchange FTX, the US Securities and Exchange Commission (SEC) has directed publicly-traded firms to tell investors about their involvement with struggling cryptocurrency firms. The SEC, in a letter to the companies, said recent bankruptcies and financial distress among crypto asset market participants have caused widespread disruption in those markets. “Companies may have disclosure obligations under the federal securities laws related to the direct or indirect impact that these events and collateral events have had or may have on their business,” it said.

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