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FTX Contagion Spreads as Orthogonal Trading Gets Default Notice for $36M Debt on Maple Finance

Creditor M11 Credit issued a default notice to Orthogonal Trading for $36 million of loans, while Maple Finance severed all ties with Orthogonal for misrepresenting its financial position.

By Krisztian Sandor

Updated Dec 6, 2022, 8:59 p.m. Published Dec 5, 2022, 3:17 p.m.

Crypto hedge fund Orthogonal Trading appears to be the next firm becoming insolvent after crypto exchange FTX's implosion. (Tom Wilson/Unsplash)