Crypto.com Responded That It Has Minimal Exposure To FTX

After the whirlwind unraveling this week of rival exchange FTX, which filed for bankruptcy on Friday, crypto watchers are on guard after discovering that Crypto.com sent 320,000 ETH million to the incorrect recipient.

Crypto.com’s CEO Kris Marszalek said over Twitter that the transaction was an accident while also claiming that the exchange was stuck under $10 million in FTX.

Crypto observers who closely examined the transaction thought that it was a ploy to inflate trade volume. The fact that the analyst who initially saw the transaction was working for a competing exchange, Coinbase, added to the commotion.

In response to this, Kris also revealed Coinbase is also stuck with $15 million in FTX.

The incidents surrounding the collapse of the FTX exchange are happening more and more. Former FTX CEO Sam Bankman-Fried is said to be under investigation by Bahamas authorities.

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