People familiar with the matter: QCP Capital has at least US$97 million in funds stranded in FTX, and QCP responded that it has enough assets to absorb position impairment

According to The Block, citing people familiar with the matter, the encrypted asset trading company QCP Capital has at least US$97 million in funds stranded on FTX. In order to recover some cash, QCP is trying to sell the claims of frozen funds to non-performing asset buyers. In this regard, a QCP spokesperson said, "We have sufficient assets to absorb the impairment of the position. The impairment will not affect our customers or our counterparties. Withdrawals remain open, transactions continue as usual, and the business continues to remain profitable." QCP said it has processed nearly $38 billion worth of transactions so far this year. QCP does not operate a lending business and has no risk of loan or credit default.