LayerZero, a blockchain interoperability protocol, raised $135 million at a $1 billion valuation in a funding round co-led by FTX Ventures in May. The demise of crypto exchange FTX – and the empire of its CEO, Sam Bankman-Fried – raised concerns about the venture capital arm’s portfolio companies. Layer Zero CEO Bryan Pellegrino responded to the question on Thursday by tweeting a memo sent to the startup’s investors. LayerZero structured an agreement and purchased all equity positions, token warrants, and other agreements between the parties from FTX, FTX Ventures, and sister firm Alameda Research. LayerZero currently has $134 million in direct cash balance and $27 million in on-chain funds, primarily in stablecoins.