{"id":14369,"date":"2022-11-09T15:43:32","date_gmt":"2022-11-09T15:43:32","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/coinbase-tether-and-circle-deny-exposure-to-alameda-and-ftx\/"},"modified":"2022-11-09T15:43:32","modified_gmt":"2022-11-09T15:43:32","slug":"coinbase-tether-and-circle-deny-exposure-to-alameda-and-ftx","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/coinbase-tether-and-circle-deny-exposure-to-alameda-and-ftx\/","title":{"rendered":"Coinbase, Tether, and Circle deny exposure to Alameda and FTX"},"content":{"rendered":"

(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum & Crypto News )<\/b>
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Several crypto firms have come out to distance themselves with exposure to FTX crypto exchange and its sister firm Alameda amid the financial crisis facing the two firms. This comes after calls from the crypto community for transparency to let users know if there is any risk.<\/p>\n

Tether\u2019s Chief Technology Officer Paolo Ardoino has come out to clarify via Twitter that the Stablecoin issuer does not have exposure to either FTX or Alameda. Replying to Wu Blockchain\u2019s tweet<\/a> that said \u201cCircle and Tether should disclose more of their financial relationship with FTX Alameda to let users know if it\u2019s a risk,\u201d Paolo tweeted<\/a> said:<\/p>\n

\u201cTo be clear: #Tether does not have any exposure to FTX or Alameda. 0. Null. Maybe is time to look elsewhere. Sorry guys. Try again.\u201d<\/em><\/p>\n

Similarly Circle\u2019s CEO Jeremy Allaire took to Twitter to clarify that Circle also does not have any exposure to FTX or Alameda. In his tweet<\/a>, Jeremy said:<\/p>\n

\u201cCircle has no material exposure to FTX and Alameda. \u00a0FTX has been a customer of Circle Payment APIs for the past 18 months, providing card and ACH services for customer transactions. \u00a0Circle\u2019s crypto payments beta product uses FTX and other exchanges, for BTC\/ETH liquidity.\u201d<\/em><\/p>\n

Coinbase confirms no exposure despite its shares dropping<\/h2>\n

The CEO of Coinbase<\/a>, Brian Armstrong, also took the opportunity to assure customers that the crypto exchange has no material exposure to FTX crypto exchange or its native token FTT. The exchange tweeted<\/a> saying:<\/p>\n

\u201cSecond, Coinbase doesn\u2019t have any material exposure to FTX or FTT (and no exposure to Alameda).\u201d<\/em><\/p>\n

Despite the assurance from the exchange\u2019s CEO, Coinbase\u2019s shares started the day with a \u22121.75 (3.45%) drop.<\/p>\n

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