Mark Cuban-backed fintech Dave says no customers exposed to FTX

Dave

17/11/2022 20:49

Nov 17 (Reuters) - Entrepreneur Mark Cuban-backed Dave
Inc  DAVE.O  said on Thursday none of its customers were exposed
to FTX and it has not launched any products in partnership with
the beleaguered cryptocurrency exchange.  
    FTX had invested $100 million in the fintech in March,
through FTX ventures, to expand Dave's digital assets offerings
and the company had said FTX US would be its exclusive partner
for crypto.
    "We have not launched any products in partnership with FTX
and no customers are exposed through Dave," the company
spokesperson said in an emailed statement to Reuters. 
     FTX filed for bankruptcy protection in the United States on
Friday in the highest-profile crypto blowup to date, after
traders pulled billions from the platform in three days and
rival exchange Binance abandoned a rescue deal.
 (Reporting by Manya Saini in Bengaluru and Saeed Azhar in New
York; Editing by Shailesh Kuber)
 ((Manya.Saini@thomsonreuters.com;))