Crypto.com CEO addresses whereabouts of $1B in stablecoins sent to FTX
CEO Marszalek says the firm has recovered much of the funds and has less than $10M in exposure to FTX. During a live ask-me-anything (AMA) session with users on Monday, Crypto.com CEO Kris Marszalek explained that the firm sent large-sum stablecoins to troubled cryptocurrency exchange FTX to fulfill liquidity within customers' orders at the time when FTX was still functional. As told by Marszalek: "Over a year, $1B was moved to FTX and we recovered all of this. We only had exposure of under $10 million when FTX shut down. And FTX was a trading venue where this is one of the few trading....
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