The largest digital asset investment group in Europe, Coinshares, has published its quarterly financial reports. The reports reveal that Coinshares was affected by its exposure to Terra’s Luna as they have announced a loss of over $21 million due to Terra’s collapse.


CEO of Coinshares, Jean-Marie Mognetti stated that the last quarter saw Coinshares suffer an adjusted EBITDA loss of $8 million and a total comprehensive loss of £0.1 million. However, Coinshares’ revenue for the current fiscal year are currently doing well with a comprehensive income of £20.1 million and an adjusted EBITDA of £10.5 million.


The asset management firm announced that it had incurred losses on its investments in Luna and Terra. However, the firm still managed to wade through the storm because of some wise investment strategies. Mognetti confirmed that the firm has stayed solvent and will remain resilient despite the current market conditions.


Although their quarterly reports have been less than exciting, it is worthy of note that Coinshares has vastly outclassed other companies that have been the topic of discussion for the past few months. The company has not discussed any withdrawal limits, buyouts and the like within it’s community. Instead, Coinshares has announced that it would be acquiring Napoleon Asset Management, after it received the nod from French regulators.


Coinshares is also planning to list it’s shares on NASDAQ. The company also recently obtained an AIFMD license which certifies that it complies with one of the most stringent rules in the European Union. Mognetti also reiterated that the company’s analysts have reviewed all the risk profiles of their current investments. This means Coinshares will take a defensive stance in order to end the year in a good position.


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