Aptos-based (APT) crypto platform Mojito Markets announced the suspension of its operations because the FTX Alameda crash significantly impacted it.
According to a Dec. 19 blog post, the prediction market platform revealed that it lost its project funds that were custodied on the bankrupt exchange FTX. It added that Alameda’s crash also means it no longer has a market maker. The project’s core team also lost most of their funds to the FTX’s implosion.
Mojito said its efforts to raise new funding failed because of the current bear market situation. This has significantly hampered its ability to deliver on its project plan.
Having come to terms with its situation, the team has “decided to pause project development for the time being.” It said:
“When the capital/funding situation becomes better, Mojito Markets intends to pick up where we left off but also go multi-chain to maximize exposure of the protocol, whilst also tapping into universal cross-chain liquidity.”
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