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Mode Global Holdings PLC - London-based fintech with a bitcoin banking app - Assures shareholders that it continues to hold itself to the highest standards of customer protection and transparency following the collapse of the Futures Exchange, which has sent ‘shock waves through the industry and will undoubtedly have damaged confidence in the short to medium term’. Adds that it is confident that its business principles and model can be trusted by all stakeholders and that it operates a different business model from FTX.
Chief Executive Officer Ritta Liu says: ‘We are shocked by recent events in our industry. Our guiding principle is to establish trust with all those using our services and our wish is to provide access for our customers to the burgeoning crypto space. Mode will continue to hold itself to the highest standards of transparency and customer protection.’
The crypto exchange FTX filed for bankruptcy in the US last week. It is estimated to owe money to more than a million people and organisations.
Current stock price: 2.35 pence each, down 2.1% on Friday in London
12-month change: down 94%
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