Crypto firms look to soothe jitters as Binance announces recovery fund

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City AM

By Charlie Conchie Crypto exchanges have looked to cool investors’ fears of contagion today as the industry is rocked by the shockwaves of FTX’s collapse last week. In an ‘ask-me-anything’ on Youtube, the boss of Singaporean-based exchange, Kris Marszalek, insisted the firm had a strong balance sheet and was not exposed to the ripples of the FTX implosion. Marszalek was facing questions from customers over his transfer of over $400m worth of Ethereum to a secure ‘cold storage’ address, which was mistakenly sent to another exchange address. “At no point were the funds at risk of bein…

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