Relm, the insurance company of FTX US, the US arm of FTX, announced that it is in “good” financially despite the collapse.
According to the statements made by Relm’s CEO, Joseph Ziolkowski, the collapse of FTX did not cause great damage to Relm’s balance sheet.
Speaking on the subject, Ziolkowski said, “We followed a traditional path on our balance sheet and held about 95% of our assets in cash or treasury bonds.” said.
Despite the collapse of Relm, FTX “good enough to meet the needs of the industry” was stated.
Ziolkowski also provides insurance services. that some of the customers were “negatively impacted by their ties to FTX and Alameda” but did not share details about these customers.