The US wing of Sam Bankman-Fried’s crypto trading empire cryptocurrency exchange FTX.US has warned its users to close their positions as it may stop trading in the coming days.
“Trading on FTX.US May Suspend in a Few Days”
The following statements were included in a banner announcement on the company’s official website:
“Announcement 2022-11-10: Trading on FTX US may be halted in a few days. Please close the positions you want to close. Withdrawals are open and will remain open. We will provide updates as we get them.”
The announcement comes just hours after Bankman-Fried said in a Twitter post that FTX US is “100% liquid,” unlike global crypto trading firm FTX International, which is currently seeking funding to close a reported $10 billion deficit.
However, Sam Bankman-Fried said that FTX’s global company also said that user assets were not used in any way, but later deleted these tweets.
In the same post, Bankman-Fried announced that another related organization, Alameda Research, will also be closing.
FTX (global organization) stopped withdrawals earlier this week after encountering over $5 billion in withdrawals on Sunday. Although the company seems to have started reopening some withdrawals on Thursday, most users were still unable to withdraw as of the time of this writing. Certain users were able to withdraw just under $7 million.
However, it was noteworthy that the cryptocurrency exchange had a low number of Bitcoin assets.
*Not investment advice.
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