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There were a lot of people who told me that everything was as it should be with Crypto.com. And that the funds were just a mirror of what people had put there. And I will admit that if that is the case then there truly is nothing to see. But now reports are coming out that they are moving large sums of stablecoins. So again I am left with the question, is everything as it should be?
Stablecoins being moved
Dirty Bubble Media has just shown that CRYPTO.COM moved $80 million in $USDT from finance to cover withdrawals. And they also posed a very good question. Why does a crypto exchange have so large sums deposited at a rival exchange?
Bubble has also tried reaching out to Crypto.com and its CEO on twitter. But so far no comments. But you might just chock all of this up to more FUD, or whatever. But if you take a look at this tweet by CZ, BINANCE CEO. Made 12 hours ago.
I pose the question again if everything is as it should with Crypto.com. Why are they moving such large sums of stablecoins, and why were they kept at a rival exchange? And mind you that Dirty Bubble Media was one of the first to publish about the possibility of FTX and Alameda Research being insolvent.
If nothing else, I hope that your crypto will be safe. No matter if you withdraw them or keep them at Crypto.com if you are a customer. But I have to say it is looking like warning flags are popping out of the woodwork.
What do you think about this? Am I just a tinfoil hat nutter sitting on a bench shouting at the clouds? Or might there actually be something sinister brewing again? Please sound off in the comment section down below. If you would like to support me and the content I make, please consider following me, reading my other posts, or why not do both instead.
See you on the interwebs!
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