FTX has restricted the ability to register and withdraw funds from the platform

FTX has restricted the ability to register and withdraw funds from the platform

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by dapp_writer005

4 years ago

Recently, many rumors have been around the FTX exchange, in particular about a possible bankruptcy. It all started with the conflict between FTX and Binance, which broke out on November 6th.

Against this background, the exchange team decided to temporarily disable the withdrawal of funds. During the day on November 9, the site was switched off several times. On the night of November 10, a red banner appeared on the FTX website at the top with information that the site could not process withdrawals and users should refrain from making deposits. It was also impossible to create a new account. 

Analysts at Reuters have recorded that about $6 billion worth of assets were withdrawn from FTX on November 6-8. To make up for these losses, the head of the exchange, Sam Bankman-Fried, plans to raise $8 billion in funding.

It is possible that Sam Bankman-Fried will urgently sell shares, take out a loan and some personal funds in order to prevent the final crisis of FTX.

Earlier, Changpeng Zhao commented on the FTX situation. 

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