Avalanche Founder Says Company Has ‘Very Little Exposure’ to FTX
While the crypto world continues to navigate the fallout from the collapse of FTX, Ava Labs says it dodged the bullet. Ava Labs is the company behind the Avalanche Network. Ava Labs built the Avalanche blockchain on the promise of extreme scaling capabilities and fast confirmation times.
Wednesday, Sirer said he is "relieved" that Avalanche had little exposure to the exchange, but acknowledged the macro damage done by FTX and its then-CEO Sam Bankman-Fried. Gün Sirer said the blowback goes back further than when the company filed for bankruptcy on November 11, or when Bankman-Friend allegedly opened a back door to funnel funds to his hedge fund Alameda Research.
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