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As the crypto community swallows FTX’s dramatic downfall last week and tries to anticipate where the contagion may head next, questions have been spinning around Crypto.com, a rival exchange that’s taken a similar approach to marketing and celebrity endorsements.

Like FTX, which filed for bankruptcy protection on Friday, Crypto.com is privately held, based outside the U.S., and offers a range of products for buying, selling, trading, and storing crypto. The crypto giant is headquartered in Singapore, and CEO Kris Marszalek is based in Hong Kong.

Crypto.com is smaller than FTX but still stands among the top 15 global exchanges, according to CoinGecko. FTX wreaked havoc on the market not just by its rapid collapse but also because the company could not honor withdrawal requests, to the tune of billions of dollars, from users who wanted to recuperate their funds. When it became clear that FTX didn’t have the liquidity necessary to give users their money, concern mounted that rivals may be next.

Twitter was showered over the weekend with speculation that Crypto.com was going through the mayhem, and crypto experts held Twitter Spaces sessions to discuss the matter. Meanwhile, revelations landed on Sunday that, in October, Crypto.com mistakenly sent more than 80% of its ether holdings, or about $400 million worth of the cryptocurrency, to Gate.io, another crypto exchange. It was only after the transaction was exposed through public blockchain data that Marszalek acknowledged the accident.

Changpeng Zhao, CEO of rival exchange Binance, fanned the flames of speculation, tweeting on Sunday that if an exchange has to move large amounts of crypto before or after it demonstrates the wallet addresses, “it is a clear sign of problems.” He added, “Stay away.”

Crypto.com’s native Cronos (CRO) token has declined nearly 40% in the last week. 

“I would just get your money out of Crypto .com now,” said Adam Cochran, an investor in blockchain projects and founder of Cinneamhain Ventures, in a tweet over the weekend. “If they are full reserves they shouldn’t care if you sit on the sidelines for a week, but their handling of this hasn’t met the bar.”

On Monday, he said on YouTube that the company had a “tremendously strong balance sheet” and that it’s “business as usual” with deposits, withdrawals and trading activity. He followed up with a tweet Monday evening, indicating that “the withdrawal queue is down 98% within the last 24 hours.”

He spoke to CNBC’s “Squawk Box” on Tuesday morning, answering questions about the state of his company, the market, and how he’s differently positioned than FTX. He said in the interview that the firm has engaged with over ten regulators about the “shocking events” surrounding FTX and how to keep them from happening again.

“I understand that right now in the market, you’ve got a situation where everyone is done taking people’s word for anything,” Marszalek said. “We focused on demonstrating our strength and stability through our actions.”

Marszalek acknowledged that Crypto.com, like other exchanges, has faced increased withdrawals since the FTX news broke, but he said his platform has since stabilized.