Bitstamp Will Delist These Two Altcoins: “Users Withdraw Funds Before This Date!”

world’s oldest cryptocurrency Bitstamp, one of the exchanges FTT and CEL altcoins announced the suspension of trading for

According to the official announcement, users must finish all their transactions before the announced deadline.

The Luxembourg-based exchange stated in its official Twitter post that it notifies every user who owns any of these tokens and encourages them to check their portfolio from their dashboard or use the official Bitstamp app.

If a trader or investor holds FTT or CEL by the deadline, the tokens will not disappear from the platform. Despite the cessation of trading, Bitstamp will allow users to safely withdraw these assets from the exchange.

Delisting of CEL and FTT Altcoins to Occur on November 22

Users will also not be able to deposit CEL tokens, while FTT tokens can be deposited. However, after 16:00 on November 22nd, trading with any of these assets will be disabled, so it will not be possible to sell these assets for Bitcoin or any other digital asset.

The trading history of both assets will remain the same as in users’ personal accounts.

We’re halting trading of FTT and CEL on November 22, 2022, at 12:00 PM UTC.

If you plan on performing any more trades, please do so before the deadline. Withdrawals will still be possible after this date.

More info 👇https://t.co/UTlQElGsmw

— Bitstamp (@Bitstamp) November 18, 2022

Celsius’ collapse led to a catastrophic 90% drop, resulting in losses for the banking platform’s token holders, while both tokens fell victim to the mismanagement of the teams behind them.

The liquidity crisis and poor fund management were the two main reasons behind the company’s collapse. Celsius’ bankruptcy filing indicated that the company needed to fill a $1.2 billion deficit on its balance sheet and had only $167 million in cash.

*Not investment advice.