Circle Has No Material Exposure to FTX and Alameda, Says CEO

Jeremy Allaire, co-founder and CEO of Circle, said on Twitter that Circle "has no material exposure to FTX and Alameda".

Jeremy Allaire said, "FTX has been a customer of Circle Payment APIs for the past 18 months, providing card and ACH services for customer transactions. Circle's crypto payments beta product uses FTX and other exchanges, for $BTC/$ETH liquidity."

"Alameda has been a customer of Circle for many years, using Circle's $USDC service for creating and redeeming $USDC. They have the exact same product and same terms of use as all of our institutional customers."

"Circle has never made loans to FTX or Alameda, and has never received $FTT as collateral, and has never held a position in or traded $FTT. In any case, Circle does not trade on its own account."

"Circle is a tiny equity holder of FTX, and FTX is a tiny equity holder of Circle. Circle is also a tiny equity holder of Kraken, Coinbase and BinanceUS."