We've closely monitored the recent volatile market situation and have taken immediate actions based on our internal risk management guidelines.
As a part of our risk management, Haru Invest detected risk with the FTX exchange before it spread and pulled all assets managed on FTX.
During this process, we assure you there was no loss of assets at our end, and none of them were associated with the FTX exchange and the price drops in FTT tokens. We have re-allocated assets only on the exchanges with Proof of Reserve (PoR) or relevant guidelines about PoR.
Given the current market, we have implemented more conservative and risk-averse strategies focusing on capital preservation. This may lead to a drop in earnings for existing Earn Explore products to varying extents. However, as a firm that prioritizes the protection of members' assets, we are confident our contingency measures would hedge risks in favor of our members in the long run.
Again, Haru Invest will continue to be on the lookout to monitor the market's volatility 24/7 and provide secure crypto asset management service to our members. Our deepest sympathies go to our members who may have been affected by the situation.