It’s been just revealed that the Tether CTO denied any exposure to FTX and Alameda. Check out more details about what he had to say below.
Tether CTO addresses the crypto crisis
Tether CTO Paolo Ardoino said the world’s largest stablecoin issuer has no exposure to FTX or its sister firm Alameda Research. This comes right after the crypto exchange was forced into a merger with rival Binance.
“Tether does not have any exposure to FTX or Alameda,” Ardoino tweeted, adding: “0. Null. Maybe is time to look elsewhere. Sorry guys. Try again.”
Ardoino’s denial was responding to a tweet from crypto reporter Colin Wu that both Circle, the creator of the USDC stablecoin, and Tether should disclose their financial relationships with FTX and trading firm Alameda.
As the online pubcalition, Blockworks notes, Jeremy Allaire, co-founder and CEO of Circle, had earlier described the FTX insolvency crisis as a “Lehman Brothers moment” for crypto. He also said USDC is not affected by the crisis.
15/ Finally, as someone who’s been involved in this industry for 10 years, it is disappointing that a technology that was spawned in reaction to the Lehman Bros moment of 2008 has given rise to its own version of the same. We can do better.
— Jeremy Allaire (@jerallaire) November 8, 2022
Binance releases new important announcements
Binance is dropping new announcements via Twitter amidst the crypto meltdown following the latest FTX-related reports. Check out what they have to say below.
Here’s the tweet that they shared:
As we announced today, #Binance has topped its Secure Asset Fund for Users (SAFU) balance to $1B.
Since 2018, we made a promise to protect users in extreme situations by establishing SAFU, making every user feel comfortable in the crypto ecosystem.https://t.co/4MZSrhH0cq
— Binance (@binance) November 9, 2022
The exchange also shared info about their integrity:
On top of this, we maintain rigorous listing standards and have a firewall to separate out the listing team to keep confidential information as secure as possible.
— Binance (@binance) November 9, 2022
Stay tuned for more news.
