Kris Marszalek, CEO of the crypto trading and payments platform Crypto.com (CRO), posted on Twitter today to calm down his platform’s users.
“In spite of our scale and our public unit economics optimisation exercise, there is still plenty of FUD [fear, uncertainty, doubt] being manufactured every day. I have seen two just this week — that we are slowing down withdrawals and running special deposit promotions. This is all false clickbait,” Marszalek posted on Tuesday in a Twitter thread.
According to him, The firm’s withdrawal policy is “the same as it always was,” and that no special deposit promotions have been introduced.
“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).
The CEO further added that,
“People are free to FUD all they want, but this doesn’t change the facts: Crypto.com will be a top5, maybe even top3 crypto platform globally by revenue this year.”
He said that the industry will be better off “after sub scale companies with broken business models are out.”
“There will be some short term pain, and we’ve seen some of it play out already, but the whole space will emerge stronger because of this much needed cleanup,” the Crypto.com CEO wrote.
After some Twitter users in recent days claimed that major crypto lending and borrowing firms are running special deposit promotions to bring in new money, while at the same time trying to limit withdrawals, the Twitter thread came in to clarify things.