Liquid Meta Provides Commentary on Recent Market Activity

TORONTO, Nov. 18, 2022 /PRNewswire/ - Liquid Meta Capital Holdings Ltd. ("Liquid Meta" or the "Company") (NEO: LIQD) (FRANKFURT: N5F) (OTCQB: LIQQF) a decentralized finance infrastructure and technology company focused on bridging the gap between traditional and decentralized finance would like to provide a market update regarding recent crypto related market activity.

Liquid Meta remains well capitalized. While it is too early to tell how much the Company's deposits may ultimately be returned from FTX, we will pursue all remedies vigorously to recover funds from FTX as part of its Chapter 11 process. The Company's shares continue to trade at a significant discount to its asset value. The Company has substantial runway and no liabilities. Beyond FTX, the Company's assets currently have no exposure to any centralized exchanges. Presently, assets are held in mostly large, liquid stable coins and fiat and will remain there until the market concerns abate.

The collapse and subsequent Chapter 11 filing of the FTX Group ("FTX") has been widely publicized. FTX's collapse has resulted in potentially $10 billion or more in liabilities¹ with a significant portion of that being user deposits. The FTX situation has caused harm to its customers and the industry more broadly and we expect to see a variety of implications in the near-to-medium term from regulatory changes to consumer adoption. However, while more details and reporting will emerge around FTX in the coming days and weeks, we want to take the opportunity to comment on the broader silver lining from the fallout.

It is important to note that FTX's failure is representative of a centralized, opaque, and ultimately untrustworthy intermediary. This is a well known pattern of events from the traditional financial world. Decentralized technology vastly decreases the need to rely on trust and intermediaries. Liquid Meta was formed to build and participate in the next generation of financial infrastructure, which are open-access and transparent protocols and applications. Defi protocols have functioned without fail during the crypto credit crisis in the summer and today. On-chain loans continue to get prioritized by borrowers for repayment in times of crisis. They remain a bright example of technology solving a major problem in financial markets.

Decentralized exchanges, lending, and trading protocols such as GMX, DYDX, Perpetual Protocol, Aave, Sushi Swap, Uniswap, and many others continue to function and many have seen substantial increases in usage since FTX fell. The FTX collapse is not a failure of crypto or blockchain technology, it is the failure of a centralized entity and bolsters the case for a more open and transparent financial system and the need for regulatory clarity in certain jurisdictions to streamline and mitigate risk in the industry.

We remain strongly capitalized and committed to create shareholder value in the best way possible going forward.

Liquid Meta is a decentralized finance infrastructure and technology company that is powering the next generation of open-access protocols and applications. The Company is creating the bridge between traditional and decentralized finance while ushering in a new era of financial infrastructure that benefits anyone, anywhere.

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Neo Exchange has not reviewed or approved this press release for the adequacy or accuracy of its contents.

This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Liquid Meta to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption "Risks and Uncertainties" in the Company's Filing Statement dated as of December 17, 2021 which is available for view on SEDAR at www.sedar.com. Forward-looking statements contained herein are made as of the date of this press release and Liquid Meta disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.

Liquid Meta's operations could be significantly adversely affected by the effects of a widespread global outbreak of a contagious disease, including the recent outbreak of illness caused by COVID-19. It is not possible to accurately predict the impact COVID-19 will have on operations and the ability of others to meet their obligations, including uncertainties relating to the ultimate geographic spread of the virus, the severity of the disease, the duration of the outbreak, and the length of travel and quarantine restrictions imposed by governments of affected countries. In addition, a significant outbreak of contagious diseases in the human population could result in a widespread health crisis that could adversely affect the economies and financial markets of many countries, resulting in an economic downturn that could further affect operations and the ability to finance its operations.

For further information:

Jonathan Wiesblatt, President, CEO
Liquid Meta Investor Relations
[email protected]
[email protected]

SOURCE Liquid Meta Capital Holdings Ltd