{"id":508828,"date":"2022-11-11T08:08:02","date_gmt":"2022-11-11T05:08:02","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/tether-cto-confirms-no-plans-to-rescue-ftx\/"},"modified":"2022-11-11T08:08:02","modified_gmt":"2022-11-11T05:08:02","slug":"tether-cto-confirms-no-plans-to-rescue-ftx","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/tether-cto-confirms-no-plans-to-rescue-ftx\/","title":{"rendered":"# Tether CTO confirms no plans to rescue FTX"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2662fdbc5f8\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2662fdbc5f8\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/tether-cto-confirms-no-plans-to-rescue-ftx\/#%E2%80%9D_Tether_CTO_confirms_no_plans_to_rescue_FTX_%E2%80%9C\" >&#8221; Tether CTO confirms no plans to rescue FTX &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Tether_CTO_confirms_no_plans_to_rescue_FTX_%E2%80%9C\"><\/span>&#8221; Tether CTO confirms no plans to rescue FTX &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvMDVjZmYxMDQtY2VjMS00MjNkLTgxNmItNzYzZjdmMjMwOGQ5LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-4b69a2fe>Cryptocurrency exchange FTX has lost at least one potential rescuer as it battles to fill a reported multi-billion dollar hole in its balance sheet.<\/p>\n<p>The CTO of stablecoin issuer Tether, Paolo Ardoino on Nov. 10 confirmed the company does not have \u201cany plans to invest or lend money to FTX\/Alameda.\u201d<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Tether does not have any plans to invest or lend money to FTX\/Alameda. Full stop.<\/p>\n<p>\u2014 Paolo Ardoino  (@paoloardoino) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/paoloardoino\/status\/1590772281567215616?ref_src=twsrc%5Etfw\">November 10, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>Ardoino\u2019s comments came after a Nov. 10\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/currencies\/crypto-markets-teeter-with-ftx-after-binance-abandons-bailout-2022-11-10\/\">report<\/a> from Reuters suggested that FTX is now at a $9.4 billion shortfall, with FTX CEO Sam Bankman-Fried reaching out to multiple companies seeking cash to keep the exchange afloat.<\/p>\n<p>According to the report, Tether, crypto exchange OKX and venture capital firm Sequoia Capital are some of the companies Bankman-Fried has <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roached for funds, reportedly asking for $1 billion or more from each of the firms. <\/p>\n<p>Tether\u2019s CTO response appears in line with the sentiment from a Nov. 9 blog post from Tether which assured the community it has no exposure to Alameda or FTX.<\/p>\n<p>The stablecoin issuer has also been reported to have frozen 46,360,701 USDT owned by FTX in its Tron blockchain wallet on Nov. 10 to comply with law enforcement. <\/p>\n<p>It is not currently understood whether OKX or Sequoia Capital is considering support for the embattled exchange. <\/p>\n<p>However, Lennix Lai, director of financial markets at OKX previously <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.reuters.com\/technology\/sam-bankman-fried-told-okx-ftx-has-liability-7-bln-okx-director-2022-11-10\/\">told<\/a> Reuters on Nov. 9 that Bankman-Fried asked for up to $4 billion from the exchange to help cover FTX liquidity issues, though didn\u2019t confirm if the company would assist FTX.<\/p>\n<p>Meanwhile, on Nov. 10, Sequoia zeroed out its nearly $214 million worth of investments into FTX marking them as a complete loss saying FTX\u2019s liquidity issues \u201ccreated a solvency risk\u201d but added it wouldn\u2019t have a large impact on the company.\u00a0<\/p>\n<p>Crypto exchange Kraken was also reportedly approached by FTX according to two unnamed sources as <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.axios.com\/pro\/fintech-deals\/2022\/11\/10\/ftx-approaches-kraken-as-potential-rescue-deal-partner\">reported<\/a> by Axios on Nov. 10 but it was not said if any deal was reached by the two parties.<\/p>\n<p>Cointelegraph contacted OKX, Kraken, Sequoia Capital, and FTX for comment but did not im<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>tely receive a response.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Genesis Trading reveals $175M of funds are locked in FTX<\/em><\/strong><\/p>\n<p>So far, FTX appears to only be able to continue limited withdrawals through a deal with the Tron blockchain allowing its assets to be swapped 1:1 with external wallets. The agreement caused Tron-based tokens to trade at a premium of up to 1200% on the platform as users rush to find an exit from the exchange.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"crypto_biz\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/tether-cto-confirms-no-plans-to-rescue-ftx\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Tether CTO confirms no plans to rescue FTX &#8220; Cryptocurrency exchange FTX has lost at least one potential rescuer as it battles to fill a reported multi-billion dollar hole in its balance sheet. The CTO of stablecoin issuer Tether, Paolo Ardoino on Nov. 10 confirmed the company does not have \u201cany plans to invest&#8230;<\/p>\n","protected":false},"author":1,"featured_media":508829,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvMDVjZmYxMDQtY2VjMS00MjNkLTgxNmItNzYzZjdmMjMwOGQ5LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[135234,75719,132424,89897,117,36041],"class_list":["post-508828","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-ftx","tag-funding","tag-okx","tag-sam-bankman-fried","tag-business","tag-tether"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/508828","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=508828"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/508828\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/508829"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=508828"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=508828"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=508828"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}