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.
