Kevin Maloney, CEO, iTrustCapital: Crypto IRA Platform iTrustCapital Has No Exposure To FTX or FTT

By Kevin MaloneyNovember 09, 20221 minute read
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To Our Trusted Clients:

The iTrustCapital software platform has no direct exposure to crypto exchange FTX, its native token FTT, or Alameda Research. FTX is not used as a service provider for iTrustCapital and the FTT coin is not an investable asset on the iTrustCapital platform.

As many have already stated, this situation appears to have been the result of business decisions and leadership within FTX, not a direct result of cryptocurrency or blockchain failings.

Rest assured, iTrustCapital does not use client assets in business operations or other business practices, nor do we leverage any client or company assets. We don’t allow our partners to do so either. Our goal is always to help our clients and we remain committed to that goal.

iTrustCapital serves as a software platform, allowing clients to pursue a path toward self-directed IRAs that contain alternative investments. We strive to maintain our platform’s integrity and our clients’ trust.

Our Interim CEO, Kevin Maloney, made this statement today to clarify the situation to our clients:

“While the unfortunate current events surrounding FTT and FTX have dominated this week’s crypto headlines and affected the broader crypto markets, iTrustCapital does not offer FTT on its platform, nor do we have direct material exposure to FTT or FTX. It’s important to reiterate that iTrustCapital does not engage in potentially harmful or high-risk lending practices. Beyond crypto staking, we do not lend, borrow, or leverage the funds of our clients or our business, nor do our partners. iTrustCapital remains committed to our clients and the integrity of our crypto IRA platform. With an emphasis on safety, security and peace of mind, our three key principles - regulatory compliance, transparency, and client-first business approach -  have and will continue to guide the company in both good and challenging markets.”

DISCLAIMER

Cryptocurrencies are a speculative investment with risk of loss. Some taxes and conditions may apply depending on the type of IRA account. iTrust Capital, Inc. does not provide legal, investment or tax advice. We recommend seeking the advice of a qualified legal, investment, or tax professional. 

iTrust Capital, Inc. makes no representation or warranty as to the accuracy or completeness of this information and shall not have any liability for any representations (expressed or implied) regarding information contained in, or for any omissions from, this document or any other written or oral communications transmitted to the recipient in the course of its evaluation. 

iTrust Capital, Inc. disclaims any and all liability to any party for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising directly or indirectly from any use of this information, which is provided as is, without warranties.

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