Cumberland Speaks Out That The Company Is Not Involved In FTX
Crypto trading firm Cumberland claimed it had almost no exposure to the defunct FTX market, which had been experiencing a liquidity problem.
In this turbulent environment, Cumberland stated on Twitter that it is instead concentrating on providing for its counterparties.
FTX, the cryptocurrency exchange led by Sam Bankman-Fried, has come to an agreement to be acquired by Binance. This leads to a crisis in the crypto market at the moment. Binance CEO Changpeng Zhao has asked exchanges to come up with proof-of-reverse to strengthen user confidence.
Other companies such as Genesis, Crypto.com, and Tether have also stated that they are not exposed to FTX.
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