Crypto.com CEO denies imposing withdrawal restrictions

Kris Marszalek said that this year the platform has a good chance of making the top five exchanges with the largest volume of revenue

06.07.2022 - 12:00

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What’s new? Crypto.com CEO Kris Marszalek has denied rumors about imposing withdrawal restrictions on the platform, as well as launching additional deposit promotions. Marszalek called both claims false and said that this year the platform has a good chance of making the top five exchanges with the largest volume of revenue. He also noted that the cryptocurrency industry will improve after small companies with flawed business models disappear.

Our withdrawals policy is the same as it always was, we didn’t implement any new restrictions. We run no special deposit promotions (and we make sure all regular ones that we do run are profitable).— Kris | Crypto.com (@kris) July 5, 2022

What else did Marszalek write? The head of Crypto.com reported that after the massive scaling last year, the exchange can cope with the significant drop in revenue and trading activity. He noted that today’s low point is equivalent to the record-breaking revenue reached in early 2021.

Earlier, crypto platform Vauld suspended withdrawals, trading, and depositing. The company said that amid the collapse of Terra and the bankruptcy of Three Arrows Capital (3AC), as well as the suspension of withdrawals by the Celsius platform, customers withdrew more than $197,7 million from Vauld.

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