{"id":39986,"date":"2022-11-10T18:39:08","date_gmt":"2022-11-10T22:39:08","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=39986"},"modified":"2022-11-13T13:43:51","modified_gmt":"2022-11-13T17:43:51","slug":"ftx-u-s-declares-it-might-stop-trading-on-its-platform","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/ftx-u-s-declares-it-might-stop-trading-on-its-platform\/","title":{"rendered":"FTX U.S Declares It Might Stop Trading On Its Platform"},"content":{"rendered":"\n
FTX U.S alerted users earlier on Thursday to a potential halt to trading<\/a> functionality soon, \u201cin a few days.\u201d<\/h5>\n\n\n\n
\"FTX
FTX U.S Declares It Might Stop Trading On Its Platform<\/figcaption><\/figure>\n\n\n\n

The CEO of FTX, Sam Bankman-Fried<\/a>, also known as “SBF,” issued a lengthy apology and reassured the crypto community that the recent turn of events would only have an impact on FTX international. According to him, \u201cFTX US, the US based exchange that accepts Americans, was not financially impacted by this shitshow.\u201d He assured users that FTX US was \u201c100% liquid\u201d and that \u201cEvery user could fully withdraw (modulo gas fees etc)\u201d. <\/p>\n\n\n\n

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19) A few other assorted comments:

This was about FTX International. FTX US, the US based exchange that accepts Americans, was not financially impacted by this shitshow.

It's 100% liquid. Every user could fully withdraw (modulo gas fees etc).

Updates on its future coming.<\/p>— SBF (@SBF_FTX) November 10, 2022\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a><\/blockquote>

However, a recent announcement on the website of FTX US is starting to cause users to raise an eyebrow, leading many to doubt the veracity of his claim. Trading on FTX US “may be halted in a few days,” according to a banner at the top of the website. <\/p>\n\n\n\n

Users were urged to “please close down any positions” they might want to close out of the exchange, but were also assured that “withdrawals are and will remain open.”Since the announcement by Binance<\/a> CEO Changpeng “CZ” Zhao that his exchange would liquidate its FTX Token FTT ($3.58), FTX International has experienced liquidity issues holdings. <\/p>\n\n\n\n

When users of FTX attempted<\/use><\/svg><\/span><\/a> to withdraw money, CZ's announcement effectively started a bank run, but the exchange lacked the available liquidity to meet demand. The exchange reportedly needed $8 billion in emergency funding to help cover the withdrawal requests, and Bankman-Fried was looking to raise $3 billion to $4 billion, according to reports that have surfaced in the past week.<\/p>\n","protected":false},"excerpt":{"rendered":"

FTX U.S alerted users earlier on Thursday to a potential halt to trading functionality soon, \u201cin a few days.\u201d The CEO of FTX, Sam Bankman-Fried, also known as “SBF,” issued a lengthy apology and reassured the crypto community that the recent turn of events would only have an impact on FTX international. According to him, […]<\/p>\n","protected":false},"author":43,"featured_media":39988,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[32],"tags":[],"class_list":["post-39986","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-exchange-news"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/11\/jpg_20221110_232709_0000.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/39986","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/43"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=39986"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/39986\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/39988"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=39986"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=39986"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=39986"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}