BlockFi has responded to the controversies surrounding FTX and its reported connection to the embattled cryptocurrency exchange in a recent statement to its users.
The crypto firm denied allegations that most of its assets are on FTX and described the rumor as “false.” Though BlockFi admitted that it has a “significant exposure” to the exchange. which could cause a delay in the recovery of the obligations owed to BlockFi by FTX.
The exposure entails obligations owed to BlockFi by Alameda, assets held at FTX.com, and undrawn amounts from the credit line with FTX US.
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