On Monday, November 14, new details about the situation with the FTX exchange became known. The news for investors was disappointing, as their money was lost forever. Also, information appeared that the Visa payment system terminated the cooperation agreement with FTX, and the President of El Salvador praised bitcoin and said that this coin can be trusted. More details on each item below.
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News for investors
Bloomberg analysts studied FTX's holdings of liquid assets and found that there is only $900 million in it, while liabilities are estimated at $9 billion. The data is taken from a presentation that FTX prepared before filing for bankruptcy. Based on this, investors may not hope for a return of funds, since there is nowhere to take them from.
Visa statement
The well-known payment system Visa completes its partnership with FTX. The reason for this was the announcement of the stock exchange about bankruptcy. This means that the issuance of debit cards for US residents in January has been cancelled. Previously, it was planned that Visa FTX users would be able to pay with a card in any country in the world, writing off cryptocurrency without commission.
The President of El Salvador noted the importance of bitcoin
El Salvador President Nayib Bukele praised Bitcoin amid the FTX crash. He also noted that Bitcoin is an important digital coin that will help ещ prevent any financial pyramids and crises. It is worth noting that El Salvador became the first country to accept bitcoin as a means of payment.
You can read about other companies affected by the FTX bankruptcy here.
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