Huobi Global’s ex-CEO Leon Li has reached a US$14 million loan agreement with New Huo Technology Holdings, in which he is the majority shareholder, after New Huo revealed one of its subsidiaries has US$18 million of cryptocurrency locked in the bankrupt FTX exchange, according to an announcement on Monday.

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New Huo Technology said the company would use the funds to pay off client assets and liabilities arising from FTX’s bankruptcy where necessary.

Due to FTX having filed for bankruptcy protection, the assets deposited on FTX may not be able to be withdrawn, New Huo Technology said in the announcement.

New Huo Technology is the new name of Huobi Technology. Both founded by Leon Li, Huobi Technology and Huobi Global were once affiliates until the latter was sold.

Li is no longer a shareholder in Huobi Global, but is the majority shareholder and non-executive director of New Huo Technology.

New Huo Technology said the FTX collapse may materially impact the company’s financial performance, pending the resolution of the Chapter 11 bankruptcy filing by FTX.