Crypto market maker Wintermute has confirmed that it has funds stuck in the embattled crypto exchange FTX. The firm claims that they have funds in the crypto exchange FTX, but it is small and within their risk tolerance.

Wintermute further said that the funds will not impact its overall financial standings. Although some funds remain, the firm stated that it has taken precautions to reduce risk and made efforts to eliminate them from the exchange.

In a tweet Wintermute stated:

“We do have remaining funds on FTX, and while this is not ideal, the amount is within our risk tolerances and does not have a significant impact on our overall financial position.”

Firms allay fears of exposure to FTX

As reported in our earlier news, Coinbase, Tether, and Circle have come out to assure their customers that they are not exposed in any way to either FTX or its sister firm Alameda Research after FTX announced plans to sell itself to Binance in the wake of liquidity crunch.

While Wintermute said that it has funds stuck in FTX, it, however, clarified that it has no exposure on FTX’s native token FTT whose price has drastically dropped since the whole FTX saga started.

Wintermute said:

“As a market-neutral trading firm, we do not have any directional exposure to FTT tokens or related ecosystem assets.”