British Virgin Islands-based crypto trading house Orthogonal Trading seems to have added its name to the list of crypto firms that have been left struggling in the wake of FTX’s collapse. 

Earlier this month, Orthogonal Trading was issued a notice of default for $36 million of loans by M11 Credit. The creditor manages three lending pools on the popular DeFi lending protocol Maple Finance. According to a statement issued by M11 on 5 December, Orthogonal allegedly misrepresented their financials.

(By Suzuki Shillsalot)