The Impacts Of FTX Collapse – Millions Of Dollars To Be Frozen | Part 3

After the FTX collapse, the company was no longer able to access any financial data through Plaid, while the crypto exchange AAX ceased all operations, Crypto.com discovered that they sent 320,000 ETH million to the incorrect recipient. Let’s review the main news of these with CoinCu:

Indian Cryptocurrency Exchange Kuber CoinSwitch: No Publicity To Risky Coins

According to Ashish Singhal, co-founder and CEO of CoinSwitch Kuber, a major Indian crypto exchange, his company has no exposure to FTX and FTT. For more specific information, you can read the article below:

https://news.coincu.com/142141-indian-cryptocurrency-exchange-kuber/

Plaid Blocks FTX US Because Of Reports Concerning User Data

As of around 6:30 am UTC on November 12, according to a statement from Plaid, FTX’s use of its products has been suspended. As a result, FTX is no longer able to access any financial data through the company. For more specific information, you can read the article below:

https://news.coincu.com/142120-plaid-blocks-ftx-us/

FTX Collapses And Is Not Allowed Priority Withdrawal For Bahamian Clients

The Securities Commission of The Bahamas (SCB) has denied giving the cryptocurrency exchange FTX instructions or authorization to prioritize withdrawals from Bahamian customers. For more specific information, you can read the article below:

https://news.coincu.com/142122-ftx-not-allowed-priority-withdrawal/

Kraken Freezes Accounts Owned By FTX Group

With the collapse of the Sam Bankan-Fried empire, many crypto companies have limited their involvement in FTX as little as possible. Kraken is one of them, as it is actively defending itself. For more specific information, you can read the article below:

https://news.coincu.com/142200-kraken-freezes-accounts-owned-by-ftx/

Binance Has Stopped FTT Deposit

After around $400 million worth of the tokens were distributed ahead of schedule, cryptocurrency exchange Binance banned FTT deposits on Sunday. For more specific information, you can read the article below:

https://news.coincu.com/142202-binance-has-stopped-ftt-deposit/

Crypto Exchange AAX Suspends All Operations

AAX suddenly announced that it would suspend all operations, including trading, withdrawals, etc. For more specific information, you can read the article below:

https://news.coincu.com/142271-aax-suspends-all-operations/

Visa Termination Of Partnership With FTX

According to Reuters, the largest payment processor in the world, Visa Inc., said on Sunday that it was terminating its global credit card relationships with the defunct cryptocurrency exchange FTX. For more specific information, you can read the article below:

https://news.coincu.com/142359-visa-termination-with-ftx/

Crypto.com Responded That It Has Minimal Exposure To FTX

After the whirlwind unraveling this week of rival exchange FTX, which filed for bankruptcy on Friday, crypto watchers are on guard after discovering that Crypto.com sent 320,000 ETH million to the incorrect recipient. For more specific information, you can read the article below:

https://news.coincu.com/142363-cryptocom-minimal-exposure-to-ftx/

Multicoin Capital Has A Stake In FTX Worth $25 Million

According to a letter obtained by The Block, Multicoin Capital, a top-tier crypto venture capital firm, has revealed its more than $25 million stake in FTX through its $430 million venture fund. For more specific information, you can read the article below:

https://news.coincu.com/142582-multicoin-capital-has-a-stake-in-ftx/

Paxos Freezes $19 Million In Crypto Tied To FTX

Paxos said on Saturday that U.S. federal authorities had ordered the company to freeze $19 million in bitcoin linked to the insolvent FTX exchange. For more specific information, you can read the article below:

https://news.coincu.com/142549-paxos-freezes-19m-in-crypto/

You may refer to the next part of the summary to see more about what happened with FTX and its surrounding entities:

• Summarize The Impacts Of FTX Collapse | Part 1
• Summarize The Impacts Of FTX Collapse | Part 2
• Summarize The Impacts Of FTX Collapse | Part 4

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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