According to The Block, Armani Ferrante, CEO of blockchain infrastructure Coral, said that the project lost FTX's funds on the exchange after the FTX detonation after a $20 million round of financing was completed in September last year, mainly from FTX Ventures. The total investment is about 14.5 million US dollars. Since then, Coral has continued to operate by cutting costs and is currently in beta. Coral's first product, Backpack, is a Web3 wallet that allows users to store and access xNFTs (a new standard developed for tokenizing code and controlling its execution). Foresight News previously reported that at the end of September 2022, blockchain infrastructure Coral announced the completion of a $20 million financing, led by FTX Ventures and Jump Crypto, with participation from Multicoin Capital, Anagram, K5 Global and other strategic investors.