VOT Research Desk
Users of cryptocurrency began to have second thoughts about exchanges after FTX’s demise, and a particular discovery regarding Crypto.com did not help matters.
The industry was surprised last month when $400 million worth of Ethereum was recovered. Investors were not happy despite the bitcoin exchange’s confirmation that the transfer was unintentional and that the money was retrieved. Additionally, there were allegations that Crypto.com had been exposed to FTT, but Marszalek once again dispelled them.
Please expect a full audited Proof of Reserves from us in the next couple of weeks, confirming the full 1:1 reserve of all customer assets.
4:54 PM · Nov 11, 2022·Twitter Web App
The exchange’s balance sheet is extremely healthy, Marszalek said in response to the continued worries during a live streaming session on November 14. He claimed that because the exchange’s reserves cover all of its members’ assets, users don’t need to worry about their money.
