The CEO of USD Coin (USDC) issuer Circle says that crypto exchange FTX’s liquidity issues bear no significant impact on the stablecoin company.
Jeremy Allaire says that Circle provides services to both FTX and Alameda Research, the quantitative crypto trading firm founded by FTX CEO Sam Bankman-Fried.
“Circle has no material exposure to FTX and Alameda. FTX has been a customer of Circle Payment APIs for the past 18 months, providing card and ACH services for customer transactions. Circle’s crypto payments beta product uses FTX and other exchanges, for BTC/ETH liquidity.”
He clarifies that his company is not affected by the troubles afflicting the Bahamas-based exchange.
“Circle has never made loans to FTX or Alameda, and has never received FTT as collateral, and has never