FTX US Has Announced its Bankruptcy and Ethereum Withdrawals Have Been Paused!

FTX US has announced its bankruptcy and Ethereum withdrawals have been paused! FTX.US may have stopped withdrawing from ERC-20 tokens. The exchange’s website says the release “is and will remain open.”

Facing bankruptcy, FTX US appears to have stopped withdrawing from ERC-20 tokens, according to blockchain data. At the time of writing, the wallet address associated with FTX US has not made any outgoing transactions for more than an hour. This is despite a notice on the exchange’s website now saying that “trading on FTX.US may be suspended within a few days. Please close any posts you wish to close. This exception is open and will remain open.” The business did not stop. Under US law, FTX.US is part of a company that has the highest priority for holding customer deposits. The former president Sam Bankman-Fried tweeted three days ago in politics that the change “is and alive, supports 1:1 and works well.”

FTX US has filed for bankruptcy

The exchange filed for bankruptcy earlier today, despite assurances from Bankman-Fried yesterday that it was trying to save the business. Freefalling US customers would be bad news for companies in freefall, and it could add to the list of mistakes that raise the ire of US regulators.