Tokens.com Announces No Exposure to FTX, Alameda Research or FTT Token

Rhea-AI Summary

Tokens.com Corp. (OTCQB US: SMURF) has confirmed no exposure to FTX or its affiliate Alameda Research, amid recent market developments. The company maintains cash balances in US and Canadian dollars with a chartered banking institution in Canada, and its cryptocurrency holdings remain unchanged since November 1, 2022. Tokens.com invests in web3 assets, focusing on crypto staking, the metaverse, and play-to-earn gaming through subsidiaries Metaverse Group and Hulk Labs. The company commits to transparency with regular financial statements available on www.sedar.com.

Positive

• No exposure to FTX or Alameda Research secures company assets.
• Cash balances held in reputable institutions mitigate financial risk.
• No significant changes in cryptocurrency holdings since November 2022.

Negative

• None.

TORONTO--(BUSINESS WIRE)-- Tokens.com Corp. (NEO Exchange Canada: COIN)(Frankfurt Stock Exchange: 76M) (OTCQB US: SMURF) (“Tokens.com” or “the Company”), a publicly-traded company that invests in web3 assets and builds businesses linked to crypto staking, the metaverse and play-to-earn gaming, today provides an update in light of recent market developments relating to FTX, a digital asset exchange that does not provide any services, or hold any cash or digital assets, for Tokens.com. The Company wishes to confirm that neither Tokens.com nor any of its subsidiaries have any exposure to FTX, its affiliate Alameda Research or its corresponding FTT token.

Tokens.com’s cash balances are held in both US dollars and Canadian Dollars with a nationally chartered banking institution in Canada. All of Tokens.com’s cryptocurrency are listed in a recent press release dated November 1st, 2022. There have been no significant changes to holdings since that date.

As a public company, Tokens.com operates with transparency, providing regular quarterly financial statements and disclosures, which can be found under the Company’s issuer profile on www.sedar.com.

About Tokens.com

Tokens.com Corp is a publicly traded company that invests in web3 assets and builds web3 businesses. The Company focuses on three operating segments: i) crypto staking, ii) the metaverse and, iii) play-to-earn crypto gaming. Tokens.com owns digital assets and operating businesses within each of these three segments.

Staking operations occur within Tokens.com. Metaverse operations occur within a subsidiary called Metaverse Group. Crypto gaming operations occur within a subsidiary called Hulk Labs. All three businesses are tied together by the utilization of blockchain technology and are linked to high-growth macro trends within web3. Through the sharing of resources and infrastructure across these business segments, Tokens.com is able to efficiently incubate these businesses from inception to revenue generation.

Visit Tokens.com to learn more.

Keep up-to-date on Tokens.com developments and join our online communities on Twitter, LinkedIn, and YouTube.

Forward-looking Statements

This news release includes certain forward-looking statements as well as management’s objectives, strategies, beliefs and intentions. Forward looking statements are frequently identified by such words as “may”, “will”, “plan”, “expect”, “anticipate”, “estimate”, “intend” and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of cryptocurrencies, as described in more detail in our securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements except as required by applicable law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221111005546/en/

Tokens.com Corp.

Andrew Kiguel, CEO

+1-647-578-7490

contact@tokens.com

Jennifer Karkula, Head of Communications

contact@tokens.com

Media: Ali Clarke – Talk Shop Media

ali@talkshopmedia.com

Source: Tokens.com Corp.

FAQ

What is the current exposure of Tokens.com to FTX as of November 2022?

Tokens.com has confirmed that it has no exposure to FTX or its affiliate, Alameda Research.

What stock symbol represents Tokens.com on the OTCQB?

Tokens.com is represented by the stock symbol SMURF on the OTCQB.

Where does Tokens.com hold its cash balances?

Tokens.com holds its cash balances in both US and Canadian dollars with a nationally chartered banking institution in Canada.

What are the main focus areas of Tokens.com Corp?

Tokens.com focuses on crypto staking, the metaverse, and play-to-earn gaming through its subsidiaries.

How often does Tokens.com disclose financial information?

Tokens.com provides regular quarterly financial statements and disclosures.