1 year ago
Sam Bankman-Fried’s FTX speech acquired the Japanese crypto trading level Liquid Group and its subsidiaries successful February 2022.
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The Japanese cryptocurrency speech Liquid is the latest institution to halt withdrawals amid the ongoing situation of centralized crypto exchanges.
The FTX-owned crypto speech Liquid took to Twitter connected Nov. 15 to officially announce a suspension of fiat and crypto withdrawals connected its Liquid Global platform.
Addressing the reasons for the suspension, Liquid cited compliance with the requirements of voluntary Chapter 11 proceedings successful the United States, noting:
“Due to the Chapter 11 filing by FTX Trading International, the eventual beneficial proprietor of Quoine Pte. Ltd, Liquid Exchange (Quoine Pte.) is halting each withdrawals — some fiat and crypto currency.”The speech emphasized that the latest measures are “not a information related halt,” adding that it volition supply much accusation astatine a aboriginal date. The steadfast besides suggested that its users should not deposit either fiat oregon crypto until much updates are available.
Fiat and crypto withdrawals person been suspended connected Liquid Global successful compliance with the requirements of voluntary Chapter 11 proceedings successful the United States.
Until further announcement we would suggest to not deposit either FIAT oregon Crypto
We volition supply updates erstwhile available.
The quality comes soon aft Liquid claimed that lawsuit assets connected Liquid wallets were not impacted by the FTX contagion, with FTX speech halting each withdrawals connected Nov. 10.
“We person conducted archetypal checks and spot nary antithetic activity,” Liquid said successful a tweet connected Nov. 12. However, Liquid instantly announced a suspension of crypto withdrawals connected Liquid Global arsenic a “precautionary measure,” until “additional information checks are completed.”
The Nov. 12 connection was Liquid's archetypal quality connected Twitter since precocious August 2022. It came soon aft Japan’s Financial Services Agency requested FTX Japan to suspend concern orders on Nov. 10.
Related: FTX laminitis Sam Bankman-Fried removes ‘assets are fine’ flood from Twitter
Founded successful 2014, Liquid is simply a large cryptocurrency speech licensed nether Japan’s Payment Services Act done its Japanese operating entity, Quoine Corporation. As antecedently reported by Cointelegraph, FTX speech acquired Liquid Group and its subsidiaries successful February 2022.
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