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FTX Was Custodian for Majority of Tokens on DeFi Lending Platform Oxygen

DeFi prime brokerage Oxygen said FTX acted as the custodian for the majority of the tokens on its ecosystems, adding that it has sought legal help.

"Whilst FTX Group did not hold any equity in the MAPS or Oxygen businesses, it did hold a significant proportion of MAPS/OXY tokens," Oxygen said in a Twitter thread. "It also acted as custodian for over 95% of the overall supply of our ecosystem tokens — both locked and unlocked."

FTX's sister trading firm Alameda Research led a $40m investment in Oxygen in February 2021, with participation from Multicoin Capital, Genesis Capital and CMS.

FTX Alameda
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