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    Home»Technology»Will FTX US Stop Withdrawals? BlockFi Hires Bankruptcy Lawyer
    Technology

    Will FTX US Stop Withdrawals? BlockFi Hires Bankruptcy Lawyer

    Eva ThaylorBy Eva ThaylorNovember 11, 20223 Mins Read
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    The madness over FTX doesn’t stop. Blockphi is the first expected victim of the contagion effect that could seize the crypto market in the coming weeks.

    However, contrary to Sam Bankman-Fried’s claims, US exchange FTX.us may also be in danger of suspension of trading and withdrawals. The CEO also emphasized yesterday that the US exchange is a separate company from its global operations and will continue to function properly.

    “No US based exchange that accepts Americans was financially impacted by this shit show. It’s 100% liquid. An update on its future”, Bankman Freed murmured just yesterday.

    However, in a message that was suddenly pinned to its US trading page yesterday, the company warned users: Please close the position you want to close. Withdrawals are still open. We will update as soon as there is an update. ”

    FTX US could be at risk as well, as some credible sources have now confirmed someone very close to the situation. International companies and exchanges are closely intertwined. A joint agreement has been signed with both companies within the framework of a sponsorship agreement.

    Additionally, multiple anonymous sources have confirmed that Bankman-Fried suggested both entities for potential capital raising in internal messages. A Twitter account close to the source, Autism Capital, I have written Note:

    PSA: If you are currently in FTXUS (why?), *very seriously* consider leaving now. For Alameda/FTX Intl. Since you’ve *absolutely* mixed your funds with FTXUS, the exchange will risk filing for bankruptcy, aka the world will come after your money. Pay attention.

    FTX Infection Brings BlockFi Down

    A few hours ago, the first victims of the epidemic were found. Lender BlockFi statement All payments are suspended until further notice.

    I am shocked and disappointed with the news regarding FTX and Alameda. […] Given that the status is not clear […], can’t operate as usual. Our priority is and will continue to be to protect our customers and their interests.Until further clarification, we are limiting platform activity, including suspending client withdrawals. […].

    Rumor has it that BlockFi hides almost 100% of its customers’ assets in Bankman-Fried’s platform. Additionally, according to Autism Capital sources, US exchanges have loaned him $200-400 million to BlockFi, and there is now a gap in FTX US’s balance sheet/equity.

    “BlockFi has a $400 million line of credit that insiders have confirmed has been stolen. ,” said Autism Capital.

    As previously leaked, BlockFi already hired a bankruptcy attorney today.

    Bitcoin price continues to be subject to high volatility. The price could briefly exceed $18,200. However, at the time of writing, BTC had already recorded a drop of $800 from his one-day high.

    BTC US Dollar
    Bitcoin volatility remains high.Source: Trading View

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