FTX-owned Liquid exchange pauses all trading after withdrawal halt


Liquid has suspended all trading operations on its platform in line with instructions from FTX Trading, the firm announced on Twitter on Nov. 20. The statement indicates that Liquid exchange paused “all forms of trading” because of the operation of the Chapter 11 process in the Delaware courts.

“We have since done so while we assess the situation. We are working through these issues and will endeavor to give a fuller update in due course,” Liquid added.

How To Get Free Crypto  

Liquid’s operational halt comes five days after the exchange suspended all withdrawals on its platform, citing compliance with the requirements of voluntary Chapter 11 proceedings. Japan’s Financial Services Agency previously also requested another FTX’s local subsidiary, FTX Japan, to suspend business orders on Nov. 10.

As previously reported by Cointelegraph, Liquid is not the only FTX subsidiary that faced issues due to the ongoing bankruptcy proceedings of its parent firm. Bankrupt crypto lender Voyager Digital has been trying to find another buyer after FTX US acquired its assets in September. Crypto exchange CrossTower has been working on a revised offer for Voyager’s assets as the firm has reopened the bidding process, Cointelegraph reported on Nov. 13.

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

Other FTX subsidiaries, including LedgerX — which does business as FTX US Derivatives — have been actively working to spin out from FTX. According to a strategic review of FTX’s global assets, LedgerX was exempted as a debtor in FTX’s bankruptcy filing. According to a review by the financial services firm Perella Weinberg, many regulated or licensed subsidiaries of FTX have “solvent balance sheets, responsible management and valuable franchises.”

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

Coinbase Banner  

The Japanese cryptocurrency exchange Liquid is halting all trading due to FTX filing for Chapter 11 bankruptcy protection in the United States.

Go to Source
Author: Helen Partz

Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.