Crypto company FalconX said its financials are strong despite its affiliation with FTX.
The company used the following statements in the email it sent to customers:
“FalxonX balances locked in FTX made up 18% of our cash holdings. This rate was within our investment limits.
FalconX Financially Safe
The company said it remains “one of the best-capitalized companies in digital assets if they fail to get any of their assets back from FTX.” However, he emphasized that 80% of their balance sheets are in US banks.
The company said it has no affiliation with FTX’s sister company, Alameda Research, BlockFi or Genesis.
The company said that they have increased their market share and pointed out that they are in a good place in the middle of the crisis in the markets.
“Our volumes have grown over 80% each month and continue to trade billions of dollars daily with customers.
We remain confident in the future of cryptocurrencies and are committed to leading the maturation of the industry.”
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