Liquid Global, a stock exchange cryptocurrencies owned by FTP extension, stops withdrawals. The Japanese stock exchange had been taken over by FTP extension earlier in the year to save it after a hack. Today the situation is reversed and FTP extension it could very well drag this platform down with it.
Liquid in difficulty: withdrawals are blocked
Liquid Global, which was acquired by the stock exchange cryptocurrencies FTP extension earlier this year it said it would stop all withdrawals after that FTP extension filed for Chapter 11 bankruptcy protection in the United States.
In a tweet Monday night US time, the company said so customers would not be able to withdraw currency either cryptocurrencies and that it would provide further updates “as they become available”. »
FTP extensionwhich had granted Liquid a loan of 120 million dollars following a 90 million hack dollars in 2021 before agreeing to buy back the exchange, did not disclose the amount paid to buy Liquid.
Liquid is operated by Quoine, which is another entity named in the bankruptcy filing of FTP extension last week.
Quoine has applied to be registered with the Monetary Authority of Singapore, but the regulator said this week it will take into account developments in the FTP extension.
Native token of Liquid, QASH extensionfell more than 25% following the exchange’s decision to freeze withdrawals.
Liquid: Rescued by FTX then dragged in its fall
The disappearance of the change FTP extension has been a major talking point in the cryptocurrency industry for over a week now.
In a huge turn for Sam Bankman-Fried, which he founded FTP extension and its associated trading company Alameda Research, the 30-year-old billionaire’s empire collapsed within days.
This followed the unexpected revelation of a hole estimated at 10 billion dollarsfurther shaking confidence in the already struggling cryptocurrency market.
Stop withdrawals from Liquid Global joins a growing list of interested companies from recent events, which have seen companies like BlockFi, a lending and trading platform for cryptocurrenciesdo the same last week.
Recent court documents have also proved this more than a million creditors could claim claims on the failed stock exchangeand more revelations will almost certainly follow.
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