November 16, 2022

Statement on FTX Collapse

FTX, one of the largest trading platforms for cryptocurrency, has declared bankruptcy in one of the most epic collapses in history.

Before its unraveling, FTX marketed itself as a safe-for-beginners destination for buying and selling cryptocurrencies. But a liquidity crunch last week forced FTX to halt withdrawals and declare bankruptcy. According to The Financial Times, FTX had only $900 million in liquid assets, versus $9 billion in liabilities!

I want to assure you that FTX’s bankruptcy has not had any impact on the Christian Church Foundation’s investment portfolios. Cryptocurrency is an unregulated and opaque space that is still very much experimental and, therefore, does not meet our criteria as a prudent investment. If you have any questions, please contact me or your Zone representative directly.

Gary W. Kidwell, President

Direct Line: (317) 713-2423
Email: [email protected]

Mountain West Zone: Monica Myers Greenberg

(Serving AK, Canada, CO, ID, MT, NV, N. CA, OR, UT, WA, WY)
(206) 650-6204
[email protected]

Southwest Zone & Northeastern Region: Marilyn Fiddmont

(Serving AZ, HI, NM, S. CA, S. NV, CT, ME, MA, RI, NH, NJ, NY, VT)
(713) 524-0964
[email protected]

North Central Zone: Kirby Gould

(Serving IA, KS, MO, MN, NE, ND, SD)
(816) 665-8446
[email protected]

South Central Zone: Bobby Hawley

(Serving LA, AR, OK, TX, MS)
(817) 923-0422
[email protected]

Great Lakes Zone: Matt Rosine

(Serving IL, IN, MI, OH, PA, WI, WV)
(317) 713-2420
[email protected]

Southeast Zone: Randy Johnson

(Serving AL, DE, FL, GA, KY, MD, NC, SC, TN, VA, DC)
[email protected]

Puerto Rico: Enrique Ocasio

(317) 750-9188
[email protected]

Thank you for your ministry and know that you always have our full commitment to serve you and your ministry.

Gary W. Kidwell
President Christian Church Foundation