Half of the Star Atlas reserves left on the FTX exchange are at risk of losing everything

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star atlas

Star Atlsa CEO said on Twitter that this Solana gaming project lost half of its reserves after the FTX crypto exchange collapsed.

Star Atlas is the latest crypto company affected by the catastrophic collapse of the FTX exchange. 

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ATMTA, the studio that developed Star Atlas, has deposited significant amounts of money at FTX, according to CEO Michael Wagner. He said: “Despite the turmoil, the company still has a 'strong balance sheet'.

Wagner held a meeting on Discord on Friday night to discuss the issue.

Wagner apologized to Star Atlas employees and users, saying “His trust has been betrayed” by FTX. 

The company did not say how much cash it lost in the FTX crash. 

“I believe the cash is held by a trusted institution. I put my trust in an individual who I believe will be the backbone of the industry.” Wagner said. “Clearly that trust has been betrayed. It's my fault, I'm sorry."

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