Maple Finance cuts ties with Orthogonal Trading because of allegations of financial misrepresentation

Blockchain-based institutional capital markets Maple Finance announced on December 5 that it plans to sever all ties with Orthogonal Trading due to allegations of financial misrepresentation following the collapse of FTX. .

According to Maple Finance, it decision severed all ties with the trading company because it misrepresented its financial position over the past four weeks and only admitted on December 3 that it was unable to pay its debts. This means that the company has “operated while effectively insolvent,” making it impossible for it to continue operating without outside intervention.