Ripple chief executive officer Brad Garlinghouse, in a recent fireside chat on CNBC’s Tech Transformers at Davos, has disclosed that the blockchain payments company had exposure to FTX.Garlinghouse revealed that Ripple leased about $10 million in XRP to the now-bankrupt crypto exchange.

“… we did have some exposure to FTX,” the Ripple chief said. “I think … we’ve publicly shared before there’s around just over $10 million of XRP we had leased to FTX that they use for various things on FTX… I’m hopeful that through the bankruptcy process, we get some or all of it back but uh it’s not too consequential to the business.”

The Ripple chief asserted that it is unclear what the company will get back from the lease, considering Sam Bankman-Fried’s alleged fraud. According to Garlinghouse, while other companies had too much exposure, Ripple’s XRP lease represented only about 1% of its liquid assets. Noting that he would rather not lose that money, the CEO said he is hopeful that Ripple will recover some or all of it during the bankruptcy proceedings. However, he asserts that it is not a detrimental loss to the business.