According to Decrypt, Circle disclosed its exposure to FTX in a new regulatory filing. Circle co-founder and CEO Jeremy Allaire said last week that the mutual minority shareholder with FTX refers to the company’s interest in FTX Group. $10.6 million investment. A Circle spokesperson said it had recently halted all transactions with FTX. In addition, Circle stated that the collapse of FTX and the automatic conversion of USDC to BUSD on Binance will cause Circle’s performance to be significantly lower than its February forecast, which estimated that from June 30, 2022 to September 30, 2022, USDC’s Circulating supply fell by $8.3 billion, $3 billion of which was driven by Binance's automatic conversion.