This November 10th, Crypto.com CEO Kris Marszalek commented on the FTX case. He stated: ” This is a critical time for the entire industry. Transparency is more important than ever and the safety of users and funds remains the priority. This requires a total and collective commitmentAt the same time, he announced what the exchange has pledged to do to restore confidence.
Efforts to regain user trust
In publication on Twitter on November 10, Crypto.com CEO Kris Marszalek said that ” transparency is more important than ever“In this context, he revealed:We share the belief that it should be necessary for cryptocurrency exchanges to publicly share proof of reserves and Crypto.com publish our certified proof of reserves“.
After the collapse in the price of the FTX exchange’s native token, several cryptocurrency companies have begun to strive for greater transparency. For example, Changpeng Zhao, CEO of Binance, said his company plans to publish an overview of the status of its reserves. He indicated that a verification system for proof of bookings will soon be launched for this purpose.
With Kris Marszalek’s recent post, the Crypto.com exchange is the latest company in the industry to commit to publication of audit evidence of certified reserves. “Restoring confidence in our category will take time, but it is important.It is up to us to send a strong message to the world that there are trusted crypto platformsCris said.
What about the suspension of USDC and USDT trading on Solana?
The official’s remarks come after the exchange announced a temporary suspension of USDC and USDT trading on Solana. The platform has emailed its customers to tell them they can’t USDC and USDT withdrawals and deposits are no longer made on the blockchain, until further notice.
Crypto.com did not provide details as to why it decided to suspend these transactions. However, he said:You can withdraw USDC and USDT at any time.But using other supported networks including Cronos and Ethereum“.
The case FTX has rocked the entire digital asset space. LCryptocurrency companies are trying everything to win back the trust of users. They try to prove that crypto isn’t all bad, indeed, it still has a lot to offer.
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Far from dulling my enthusiasm, a fruitless investment in a cryptocurrency in 2017 only increased my enthusiasm. I therefore decided to study and understand the blockchain and its multiple uses and to transmit information relating to this ecosystem with my pen.