Bitvavo is very popular in Western Europe, unknown in the rest of the world.
People were speaking about a 280 million EUR hole in their balance sheet, then there was a leak that showed Bitvavo locked 280 million EUR of user assets with Genesis and they can't access that.
Bitvavo manages about 1.6 billion EUR of assets and they say they made enough profit that can cover that "locked" fund, so they can ensure the withdrawals of all customer funds.
I find it unlikely that they made at least 280 million profit on 1.6 billion assets, I know a year ago asset prices were higher but still the trading volume is very low on Bitvavo to satisfy that in my opinion.
What do you think, will they survive?
People were speaking about a 280 million EUR hole in their balance sheet, then there was a leak that showed Bitvavo locked 280 million EUR of user assets with Genesis and they can't access that.
Bitvavo manages about 1.6 billion EUR of assets and they say they made enough profit that can cover that "locked" fund, so they can ensure the withdrawals of all customer funds.
I find it unlikely that they made at least 280 million profit on 1.6 billion assets, I know a year ago asset prices were higher but still the trading volume is very low on Bitvavo to satisfy that in my opinion.
What do you think, will they survive?
