After Sam Bankman-Fried’s crypto empire imploded last week, exchanges are rushing to soothe the nerves of infuriated investors. Digital banking firm, Revolut is the latest one to distance itself from FTX.
In an emailed statement, Revolut told users that it did not have “material exposure” to the bankrupt crypto exchange.
Revolut Monitoring the Situation
The London-based company said it is still monitoring the situation while reminding the volatility associated with digital assets.
“This is a good reminder that crypto is very volatile: the value does go down, as well as up. So, remember to only invest what you can afford to lose.”
It is important to note that the FTX chief tweeted that users could transfer money in fiat currencies between his exchange and Revolut in June last year. Despite this, the latter’s spokesperson has confirmed that the company does not have any direct exposure to FTX.com or its sister trading firm Alameda Research. Additionally, Revolut has very litt
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