Crypto business distances itself from the FTX exchange

by dapp_writer005

3 years ago

Cryptocurrency organizations Genesis, Crypto.com and BlockFi assure their users that the event that happened to the FTX cryptocurrency exchange will not affect their assets.

Following the Binance CEO's announcement of the acquisition of FTX, Genesis Trading said the situation does not pose significant credit risks. Moreover, Genesis does not have access to tokens that were issued by CEX exchanges.

We will hardly be affected by the collapse of FTX, because we store less than ten million dollars on this cryptocurrency exchange for user transactions. This is nothing, compared to our global profit of over $1 billion over two years.Kris Marszalek (CEO of Crypto.com)

Marszalek noted that his company constantly adheres to the basic principle of operation, believing that the ratio of reserves should be 1:1. He also added that the crypto industry needs to regain lost trust by working several times harder. And he asked the regulators to "strengthen and protect" this area.

The collapse of FTX will not affect the BlockFi business either. The CEO of Coinbase sympathized with those involved in the situation with the FTX and Binance exchanges.

Coinbase has no meaningful relationship with FTX, FTT or Alameda.Brian Armstrong

After the statement of the director of Binance about the sale of FTT tokens, the rumors about the purchase of the FTX exchange were there. This happened due to the fact that Bankman-Fried, who owns Alameda Research, must fulfill a loan obligation to the bankrupt company Voyager Digital.

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