Crypto.com sent $1bn in stablecoins to FTX in 2022 - Etherscan.io

Despite Crypto.com claiming to have near 0 exposure to the fallout of FTX it's been discovered that they had, over the course of the last year sent multiple very large 10-40m stablecoin transfers to FTX totaling approximately $1bn.

https://etherscan.io/tokentxns?a=0xadd6d754b48a7eb4b4a71651722666093f7bc5d9&p=1

Transactions can be seen on the etherscan link: https://etherscan.io/tokentxns?a=0xadd6d754b48a7eb4b4a71651722666093f7bc5d9&p=2

Multiple confirmed wallet addresses from crypto.com sending stablecoins to FTX in very large numbers over the course of the last year, possibly to farm the high interest rates they were offering at the time but regardless this seems a lot more "involved" with FTX than they initially claimed.

There's 3 pages of transactions here, scroll through to see the full amounts.

I'm not going to speculate about whether or not these were client funds or their own but I find the whole thing incredibly weird and don't understand why they would be using FTX to trade. Regardless, I don't trust any of the exchanges right now and strongly reccommend everyone withdraw and self custody to be safe.

Any exchange that is fully reserved will have no issue should users choose to withdraw.