FTX’s bankruptcy that he then eyes turned to the Crypto.com exchange. The exchange’s mistakenly sending $400 million worth of ETH to Gate.io caused some speculation to rise.
Saying that it is not normal to send ETH by mistake, Binance CEO also warned investors.
Will Crypto.com be the second FTX? While the question remains hot on the agenda, new statements came from the CEO of the stock market, Kris Marszalek.
Speaking in a Youtube broadcast Marszalek He reiterated that the stock market has a strong balance sheet. FTXindicating that their exposure to CEO He said it was limited to $10 million.
“Our FTX Exposure Is Low”
“We saved $990 million from FTX. These fund flows were a necessity.
We did not use CRO for loan guarantees like FTX.
Our withdrawals are working.
We do not have any liquidity crisis and will not raise funds. Our cash flow is positive.”
Statement on Sponsorships
Asked about their expensive sponsorship, the CEO said:
“We pay them a small amount every year. It’s about 10% of our revenue, and that’s not a very small figure for this industry. It is not possible to reach 70 million users without investing a little in brand awareness.”
Bear Market Commentary
Implying that the bear market will continue, the CEO finally said:
“Expect a tough crypto winter, but Crypto.com is not going anywhere.”
After the FTX crisis, there was a 55% drop in the price of CRO.
CRO continues to trade at $0.0674 as of our news time.
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