Crypto.com, a popular crypto-exchange based in Singapore, has pledged to prove its balance payments stability to those who believe the platform is in financial trouble. Chris Marszalek (Kris Marszalek), the head of Crypto.com, said there are no risk.
The head of Crypto.com said during a YouTube live broadcast that the platform has always kept reserves to back every “coin” held by customers on its platform. “We will continue to conduct our business as usual and prove to all the naysayers who are now on Twitter in the last couple of days”Marsalek claimed. Marsalek promised that the exchange would prove its solvency by deeds. The exchange will continue to function as before and will remain a safe and reliable place for everyone to access cryptocurrency.
According to Crypto.com’s director, the results from the audit of accounts will soon be published, confirming that Crypto.com doesn’t deal in “irresponsible” loan products.
After investors began asking questions on Twitter regarding the $400 million Ethereum withdrawal to Gate.io accounts on October 21, the YouTube broadcast was created. Marsalek wrote a post on the social networking, stating that the cryptocurrency was already returned to the exchange. However his statement didn’t calm the panicked market after the collapse of FTX. According to The Wall Street Journal withdrawals from the site increased substantially over the weekend.
Marsalek asserts that the funds were never in danger and were not sent to a place where they would not be returned. This transfer occurred over three weeks ago, and it has nothing to do the FTX situation. Around 7,000 people viewed the live broadcast.
After the collapse of FTX, the cryptocurrency market is still in a frenzy. It has taken a stunning path to become one of the most popular online exchanges before eventually going bankrupt. According to Reuters customers have lost more than $1 billion.
One of the users discovered the movement of funds from Crypto.com after it published the addresses of its “cold wallets”. “cold wallets”.