Is Crypto.com Exchange Likely To Go Bankrupt After FTX?

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The Crypto.com exchange has now taken the limelight after the FTX collapse. The crypto community is concerned that some crypto exchanges like Gate.io and Crypto.com are faking their proof of reserves.

As per analytics provider ‘Lookonchain’, the exchange has $531 million in SHIB compared to $446 million in ETH. It also holds $80 million in its own CRO token.

The data provider also warned that 40% of Crypto.com’s assets are low liquidity. Reporting a spurious transfer of assets before the firm released its proof-of-reserves.

Popular YouTuber, BitBoy advised community members to withdraw their tokens from the exchange.