Kris Marszalek took to YouTube Monday to reassure users on Crypto.com that everything is okay after the collapse of rival firm FTX.
“Our platform is performing business as usual. People are depositing, people are withdrawing, people are trading, there’s pretty much normal activity just at a heightened level,” Marszalek said.
Oops: Crypto.com mistakenly sent $400 million worth of ether to Gate.io, another crypto exchange, in October.
“We never engage as a company in any irresponsible lending practices, we never took any third-party risks,” he concluded.
Business as Usual
Binance CEO Changpeng Zhao mimicked the sentiment of Crypto.com’s CEO.
“It’s business as usual”, he said.
The concern: FTX entered bankruptcy on Friday after facing a liquidity crunch. Investors fled the platform over concerns about its financial health. Now, investors are worried that a plague could spread to other crypto platforms.
Despite Zhao’s positive words, Binance saw a slight increase in withdrawals on Monday.
Market Briefs
