Amid the liquidity crisis of FTX and trading firm Alameda Research, some of the largest crypto companies face calls for transparency to let users know if there are risks.
In response to concerns brought up by the crypto community, Tether chief technology officer Paolo Ardoino clarified that the stablecoin issuer has no exposure to FTX or Alameda. According to the Tether executive, Alameda has previously redeemed a lot of Tether.
Circle CEO Jeremy Allaire has also denied rumors of the firm having exposure to FTX and Alameda. The stablecoin executive said that their firm does not have any material exposure to both firms. He highlighted that while both FTX and Alameda have been customers of Circle, the stablecoin issuer has not made loans, received FTX tokens as collateral or taken any positions on FTT.
CEO of crypto exchange Coinbase Brian Armstrong, also took this opportunity to assure its users that the firm has no material exposure to FTX or FTT. Armstrong also highlighted that the crypto exchange has no exposure to Alameda.
Despite the assurances given by the executives, some community members are still dissatisfied and called for accountability. The community member said that there have to be consequences for these types of events.
