Crypto.com pauses deposits, withdrawals of Solana stablecoins USDC, USDT - report

As Sam Bankman-Fried's FTX fiasco continues to roil the broader cryptocurrency space, crypto exchange Crypto.com has reportedly halted customer deposits and withdrawals of Solana ( SOL-USD ) ecosystem stablecoins USDC ( USDC-USD ) and USDT ( USDT-USD ). While it's unclear why Crypto.com suspended that activity, it cited "recent industry events" in an emailed statement to users, CoinDesk reported, noting that a big chunk of Solana's ( SOL-USD ) coin supply has been controlled by SBF's troubled crypto exchange FTX as well as its sister company Alameda Research. Crypto.com did not immediately respond to a request for comment by Seeking Alpha. SOL ( SOL-USD ), the native digital token of Solana, a smart contract platform that seeks to be a better version of ethereum ( ETH-USD ) with higher transaction speeds and lower fees, dropped some 45% in the past day to $12.78 amid FTX's debacle. Crypto.com already got hit by the crypto market downturn as the trading firm made plans to make job cuts to better manage expenses. Earlier this week, on-chain data showed that FTX paused withdrawals .