A form of Crypto.com (disclosure: a sponsor of Unchained) users reported delays to their withdrawals amid fears that the alternate would be aware the equal route because the bancrupt FTX.

On Monday, some traders who attempted to withdraw their funds from Crypto.com acknowledged they had been waiting for over 12 hours for the ask to be processed.

The station web announce on Crypto.com displayed a “withdrawals delayed” ogle at around 12:00 pm ET. The message acknowledged that the intention within the inspire of the delays became high community traffic.

“Withdrawals are being processed as accepted. No FUD please,” tweeted Crypto.com CEO Kris Marszalek about a hours later.

Marszalek’s tweet comes after an AMA on Sunday where he addressed the insolvency concerns around the alternate.

“Of us are depositing, folk are withdrawing, folk are trading. There in all equity great accepted activity, accurate at a heightened stage,” acknowledged Kris within the AMA.

The Crypto.com CEO additionally assured users that the alternate’s reserves were passable to veil all client resources held on the platform.

“We private now no longer speed a hedge fund, we private now no longer trade customers’ resources. We regularly had 1-to-1 reserves,” acknowledged Kris.

Knowledge from CryptoQuant reveals that the alternate’s reserves considerably declined now no longer too long ago. In a tweet on Monday, CryptoQuant CEO Ki Younger Ju famed that stablecoin reserves on Crypto.com had declined 90%, from $2.9 billion to $292 million, over the previous seven months.

In the meantime, the amount of ETH withdrawals on Crypto.com reached an all-time high, with 155,850 withdrawals over the previous three days on my own.