Uruguayan unicorn reports $5.6 million stuck in FTX as damage adds up

Quick Take

  • DLocal is not working with any other crypto exchange.
  • The Uruguayan payments company has $5.6 million tied up on FTX.

Uruguayan payments unicorn DLocal has $5.6 million tied up on FTX, the company said in a filing.

“We are not working with any other crypto exchange as banking service, and our exposure to the crypto ecosystem is minimal as processing FIA payments for crypto exchanges represented less than 0.3% of our TPV in the third quarter of 2022,” referring to total payment volume, the company said in its third-quarter earnings report earlier this week.

DLocal is the latest company to reveal exposure to FTX following its bankruptcy protection filing on Friday.

Earlier, The Block reported troubled Asian crypto lender Vauld has around $10 million in stuck funds stuck on FTX.

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