Taiwanese financial platform Steaker acquired by NSCA, CEO remains, users rely on compensation from FTX despite losses

Taiwanese financial platform Steaker suffered a loss of $10.67 million equivalent tokens due to the bankruptcy restructuring of FTX. On 11/24, Steaker announcement stated that the company has been acquired by National Standard Capital Asia NSCA on behalf of investors, with CEO Wilson Huang continuing in his role.

Most Users' Losses Still Reliant on FTX Compensation

However, new investors' acquisition does not provide compensation from Steaker, but maintains the original case, according to relevant legal regulations, seeking compensation from FTX; at the same time, initiating compensation mechanism of approximately $380,000 and related plans. The official statement reads, "Steaker is working with the team to develop the SAFU compensation mechanism and related plans to minimize losses for Steaker users. Detailed information and procedures will be announced separately."

What is NSCA?

National Standard Capital Asia (NSCA) website indicates that it is an M&A company for mergers, acquisitions, and investment banking, with real estate business; offices in Shanghai and Taipei, partners and business scope including Southeast Asia, the United States, and Europe.

According to the website, NSCA founder Thomas Lee manages $2 billion in Singapore REITS real estate investment trusts, holds management positions in multiple companies, and invests in industries such as the supply chain and financial technology.

No Such Company at NSCA Taipei Address?

According to netizens who visited the address provided by NSCA's website, the floor does not have a sign similar to NSCA: