FTX-owned Liquid exchange pauses all trading after withdrawal halt

Liquid has suspended each trading operations connected its level successful enactment with instructions from FTX Trading, the steadfast announced connected Twitter connected Nov. 20. The connection indicates that Liquid speech paused “all forms of trading” due to the fact that of the cognition of the Chapter 11 process successful the Delaware courts.

“We person since done truthful portion we measure the situation. We are moving done these issues and volition endeavor to springiness a fuller update successful owed course,” Liquid added.

Liquid’s operational halt comes 5 days aft the speech suspended each withdrawals connected its platform, citing compliance with the requirements of voluntary Chapter 11 proceedings. Japan’s Financial Services Agency previously besides requested different FTX’s section subsidiary, FTX Japan, to suspend concern orders connected Nov. 10.

As antecedently reported by Cointelegraph, Liquid is not the lone FTX subsidiary that faced issues owed to the ongoing bankruptcy proceedings of its genitor firm. Bankrupt crypto lender Voyager Digital has been trying to find different purchaser aft FTX US acquired its assets successful September. Crypto speech CrossTower has been working connected a revised connection for Voyager’s assets arsenic the steadfast has reopened the bidding process, Cointelegraph reported connected Nov. 13.

Related: Ripple to see deals for FTX assets: Brad Garlinghouse

Other FTX subsidiaries, including LedgerX — which does concern arsenic FTX US Derivatives — person been actively moving to rotation retired from FTX. According to a strategical reappraisal of FTX’s planetary assets, LedgerX was exempted arsenic a debtor successful FTX’s bankruptcy filing. According to a reappraisal by the fiscal services steadfast Perella Weinberg, galore regulated oregon licensed subsidiaries of FTX person “solvent equilibrium sheets, liable absorption and invaluable franchises.”

Perella Weinberg recovered that immoderate FTX’s subsidiaries — including FTX Japan, Quoine, FTX Turkey Teknoloji Ve Ticaret, FTX EU, FTX Exchange FZE and Zubr Exchange — are debtors.

The Japanese cryptocurrency speech Liquid is halting each trading owed to FTX filing for Chapter 11 bankruptcy extortion successful the United States.