Advertisement
Advertisement

Crypto exchange Gemini co-founder says no exposure to FTT, Alameda

By:
Reuters
Published: Nov 9, 2022, 21:06 GMT+00:00

(Reuters) - Gemini cofounder Cameron Winklevoss assured investors that the crypto exchange has no exposure to FTX, digital coin FTT and crypto trading platform Alameda, as a liquidity crunch at FTX sparks concerns of another crypto contagion.

Winklevoss speaks at a New York State Department of Financial Services virtual currency hearing in the Manhattan borough of New York

(Reuters) – Gemini cofounder Cameron Winklevoss assured investors that the crypto exchange has no exposure to FTX, digital coin FTT and crypto trading platform Alameda, as a liquidity crunch at FTX sparks concerns of another crypto contagion.

FTX, which developed a penchant for bailing out troubled crypto firms, saw investors express concerns about its financial health that led its token FTT to shed another 50% on Wednesday after wiping out 72% a day earlier.

“For the avoidance of doubt, Gemini has no exposure to FTT tokens or Alameda and no material exposure to FTX,” Winklevoss wrote in a tweet on Wednesday.

Gemini joins cryptocurrency exchange Coinbase Global Inc which also pacified investors on Tuesday.

(Reporting by Mehnaz Yasmin in Bengaluru; Editing by Shailesh Kuber)

About the Author

Reuterscontributor

Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV. Learn more about Thomson Reuters products:

Advertisement