1 year ago
Visa has reportedly terminated its planetary agreements with collapsed cryptocurrency speech FTX and its U.S. arm, FTX US. The payments elephantine added that FTX’s “U.S. debit paper programme is being coiled down by their issuer.”
Visa Ends Agreements With FTX
Visa Inc., the world’s starring payments processor, reportedly said Sunday that it has ended planetary agreements with bankrupt crypto speech FTX. A Visa spokesperson told Reuters:
We person terminated our planetary agreements with FTX and their U.S. debit paper programme is being coiled down by their issuer.
“The concern with FTX is unfortunate and we are monitoring developments closely,” the typical added.
Visa and the companies down FTX.com and FTX US announced “a semipermanent planetary partnership” successful aboriginal October. “As a portion of the alliance, FTX volition statesman by offering FTX-branded Visa debit cards to FTX customers internationally,” the announcement detailed, adding that portion the debit cards are presently lone disposable successful the U.S., they “are present being rolled retired globally successful implicit 40 further countries.”
FTX filed for Chapter 11 bankruptcy connected Friday and Sam Bankman-Fried stepped down arsenic the CEO aft Binance decided not to proceed with the acquisition of the firm.
The speech is reportedly being investigated by the U.S. Department of Justice (DOJ), the Securities and Exchange Commission (SEC), and the Commodity Futures Trading Commission (CFTC) for allegedly mishandling lawsuit funds.
What bash you deliberation astir Visa terminating agreements with the embattled crypto speech FTX? Let america cognize successful the comments conception below.
Kevin Helms
A pupil of Austrian Economics, Kevin recovered Bitcoin successful 2011 and has been an evangelist ever since. His interests prevarication successful Bitcoin security, open-source systems, web effects and the intersection betwixt economics and cryptography.
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