Several crypto companies have spoken out against exposure to FTX cryptocurrency exchange and Alameda sister firm Alameda in the wake of the financial crisis. This follows calls from the crypto community to make sure users are aware of any risks.
Tether’s Chief Technology Officer Paolo Ardoino has come out to clarify via Twitter that the Stablecoin issuer does not have exposure to either FTX or Alameda. I replied to Wu Blockchain’s tweet that said “Circle and Tether should disclose more of their financial relationship with FTX Alameda to let users know if it’s a risk,” Paolo tweeted said:
“To be clear: #Tether does not have any exposure to FTX or Alameda. 0. Null. Perhaps it is time to move on. Sorry guys. Try again.”
Similarly Circle’s CEO Jeremy Allaire took to Twitter to clarify that Circle also does not have any exposure to FTX or Alameda. His tweet, Jeremy said:
“Circle has no material exposure to FTX and Alameda. Circle Payment APIs has had FTX as a customer for 18 months. They provide card and ACH services to customers transactions. Circle’s crypto payments beta product uses FTX and other exchanges, for BTC/ETH liquidity.”
Coinbase confirms no exposure despite its shares dropping
Brian Armstrong, Coinbase’s CEO, took the opportunity to assure customers the exchange is not exposed to FTX or its native token FTT. The exchange tweeted saying:
“Second, Coinbase doesn’t have any material exposure to FTX or FTT (and no exposure to Alameda).”
Despite the assurance from the exchange’s CEO, Coinbase’s shares started the day with a −1.75 (3.45%) drop.
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