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Liquid Stops Trading After Suspending Withdrawals

Only five days after prohibiting fiat and cryptocurrency withdrawals on the site, Liquid discontinued trading on it.

Liquid Stops Trading After Suspending Withdrawals 2

In order to comply with FTX’s petition for Chapter 11 bankruptcy protection on November 15, the firm put a stop to all fiat and crypto withdrawals.

The exchange announced on Twitter on Sunday:

The exchange is still in the process of assessing the situation and no further information is available.

In March, Liquid Group and all of its operating subsidiaries were purchased by FTX Trading. No purchase price was made public, but the exchange had previously offered the exchange a $120 million loan after it suffered a hack and lost $90 million.

FTX is currently still in the process of reviewing its assets before bankruptcy.

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Harold

Coincu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.