Is Crypto.com the Next FTX ?
The noise after FTX’s collapse has made the entire crypto market to shake and shows that every crypto exchange will look for protection in the next day.
Another large crypto exchange, Crypto.com, seems to be affected closely from FTX, as its exposure reached $1 billion.
But Crypto.com’s CEO, Kris Marszalek, announced that it managed to withdraw the majority of funds invested in FTX, losing only $10 million from the initial investment.
In addition, he points out that Crypto.com has never used CRO, its own token, as a collateral for customers’ deposits or for new investments.
Finally, he claimed that its business model is different from FTX’s one, as it doesn’t want to make money from its token in the near future.
We hope this will calm down its investors….