• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M
Japan's FSA asks FTX Japan to suspend operations

Japan's FSA asks FTX Japan to suspend operations

user avatar

by dapp_writer005

3 years ago

In order to protect the interests of investing users and creditors, the FSA Japan team requested that the FTX Japan branch stop all derivatives transactions for the time being.

These measures were taken after the decision of the parent company to suspend the withdrawal of funds without any explanation. Nowadays, users will not be able to open new deposits. Also, the financial services agency banned the FTX exchange from conducting over-the-counter derivatives transactions.

We have learned that FTX Trading Limited has credit uncertainty. Therefore, we will try to do everything possible so that there are no situations due to which creditors and investors may suffer from the outflow of assets to affiliated firms. FSA

In the period from 11/10/2022 to 12/9/2022, all exchange operations will stop. Only the FSA can restore them ahead of schedule. The assets of the exchange must be inside the country, and before November 16, 2022, FTX must provide the FSA with a project in which investor protection is spelled out. In addition, FTX developers must ensure transparency of the current affairs of the organization.

The creator of the TRON Foundation, Justin Sun, said that this situation with FTX is bad for both the development of the industry and investors.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Aave Faces Major Crisis Following Kelp DAO Exploit

chest

Aave is facing a major crisis due to a $293 million exploit at Kelp DAO, leading to a confidence crisis and significant withdrawals.

user avatarJesper Sørensen

Aave's Borrowing Activity Collapses Post-Crisis

chest

Aave's borrowing activity has dramatically declined post-Kelp DAO exploit, signaling a lack of confidence in the protocol.

user avatarRajesh Kumar

Ethereum Market Sees Shift Towards Derivatives Trading

chest

A significant divergence has been observed in Ethereum trading, with derivatives gaining dominance while spot market volumes decline.

user avatarLucas Weissmann

Senate Banking Committee Moves Forward with Warsh's Nomination for Fed Chair

chest

The Senate Banking Committee has advanced Kevin Warsh's nomination to succeed Jerome Powell as Fed chair.

user avatarFilippo Romano

Federal Reserve Maintains Steady Interest Rate Amid Global Economic Concerns

chest

The Federal Reserve maintained its benchmark interest rate steady at 3.5% to 3.75% amid global economic concerns.

user avatarEmily Carter

CLARITY Act Moves Closer to Senate Vote

chest

The long-awaited CLARITY Act is nearing its final procedural hurdle in the Senate, with a vote expected in May.

user avatarTomas Novak

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.