Did you lose money on FTX

[Nomad]

FTX was one of the biggest crypto exchanges once, however, the company has now collapsed taking with it a lot of money from common investors. I never used FTX and I did not lose any money. What about you?

 

[Alex]

I wasn't effected. Fortunately, I use Crypto.com for exchanging, holding, and receiving cryptocurrency. The owner Kris has announced recently on Twitter that their reserves are in a solid fiscal position and have not been affected by the bear market. This isn't the case for smaller start-up exchanges that don't have the reserves, especially during an economic crisis due to COVID and the war in Ukraine creating uncertainty.