FTX Halts Ethereum Trades On Arbitrum, Solana, BSC Ahead Of The Merge
Because Ethereum developers promised no downtime during The Merge, one of the most anticipated Ethereum updates, crypto community members optional to take proactive actions to protect investor assets. One of them is FTX, and the exchange has declared that all Ether (ETH) exchanges on various blockchains would be suspended until the September upgrade is completed.
The Merge, according to Ethereum developers, is meant to move to PoS with zero downtime due to the total terminal difficulty (TTD), which ensures the transition based on the total mining power that goes into establishing a chain. Despite the explanation, FTX decided to halt “deposits and withdrawals until the Merge is finished and networks are stable.”
The trade suspension for Ethereum on several blockchains has been scheduled to begin at various times but is subject to change depending on anticipated issues.
This is the first move in the major exchanges to prepare for the biggest update of the Ethereum network, it is not clear if Binance or Coinbase and other exchanges have the same move however, most platforms support PoS chain after The Merge.
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