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UPDATE 1-Mark Cuban-backed fintech Dave says no customers exposed to FTX


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By Saeed Azhar and Manya Saini

NEW YORK, Nov 17 (Reuters) – Entrepreneur Mark Cuban-backed Dave Inc 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 a statement to Reuters.

“The note issued to FTX is not due for repayment until March 2026. No terms contained in the note trigger any current obligation by Dave to repay prior to the maturity date.”

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.

The collapse has fanned fears about the future of the…

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