Crypto .com CEO, Kris Marszalek held an AMA session with users to clear up the air about the exchange’s exposure to FTX.
with users on Nov. 14, 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:
During the session, Marszalek reassured users that the exchange was not halting withdrawals. Although, a higher volume of requests has led to a backlog of customer service tickets. The Crypto.com chief then stated that only three coins, two of which are FTX tokens and the other being a securitized token, currently have their withdrawal functions suspended on the exchange.
Finally, in response to users questioning why approximately 20% of the exchange’s reserves are in memecoin Shiba Inu , Marszalek explained that they were simply customer deposits:
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