In response to the rumors that have been circulating for a few days, Chris Marsalek, CEO of Crypto.com, spoke out to reassure investors. He claims that an audit of Crypto.com’s reserves is underway to prove the transparency and good health of the exchange.
Crypto.com finally safe?
Chris Marsalek, CEO, Crypto.comwanted to clarify the situation in the face of rumors sparking a liquidity crisis within the cryptocurrency exchange after the FTX case.
In fact, the rumors from the lobby let it be known Crypto.com has been exposed to over $1 billion in stablecoins on FTX at the time of its collapse. In a live statement on YouTube, Chris Marsalek confirmed that this $1 billion has indeed been transferred to FTX, but within a 12-month period.
🔴 Live – Follow the FTX deal in real time
Moreover, according to him, when FTX decided to stop withdrawals, Crypto.com only offered him $10 million. He adds that FTX has already received some orders from its clients, as the platform was one of the only companies with significant liquidity for some cryptocurrencies. ” These are the facts, and everything else is just food “, Identifies.
It also claims that Crypto.com He never used his CRO token as collateralUnlike FTX and FTT, which is the main reason for its recent downfall.
Moreover, we learned about it recently Crypto.com mistakenly sent $400 million In the form of Ether (ETH) on the Gate.io exchange, news that has not helped restore investor confidence in the centralized exchange. According to the CEO of Crypto.com, Money was never at risk Although there is already an error, the destination addresses must be whitelisted and approved:
The money was not in danger of being lost. The system did not allow us to send money to a place where it could not be received. »
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In order to show transparency at a time when investor confidence in cryptocurrencies is at an all-time low, Crypto.com has published various addresses for its cold wallets They contain Bitcoin (BTC), ETH, or other ERC-20 tokens.
The addresses in question show 53,024 BTC and 391,564 ETH, For a total of about $3 billion Along with other cryptocurrencies held by Crypto.com.
According to the statement on the transparency of the company’s reserves, the latter is guaranteed That a review of its cash flows has been conducted with an external company In order to issue Proof of Reserves in the coming weeks. In the statement, Crypto.com encouraged other exchanges to do the same, echoing Changpeng Zhao, CEO of Binancewho issued the same advice.
This afternoon, the site’s withdrawal capabilities were slightly affected by a large number of simultaneous withdrawals. However, around 6 p.m Kris Marszalek announced via Twitter that withdrawals were operating normally.
👉 In the news – FTX: Almost $400 million in FTT tokens have been added to the circulating supply
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source : Crypto.com
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Passionate about the world of decentralized finance and the novelties brought by Web 3.0, I write articles for Cryptoast to help make the blockchain more accessible for everyone. Convinced that cryptocurrencies will change the future very soon.
Maximilian Pro
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