Tron and FTX will soon facilitate withdrawals on this struggling exchange.
Disclosure from FTX: We are pleased to announce that we have reached an agreement with Tron to set up a special facility that will allow holders of TRX, BTT, JST, SUN and HT to trade their assets to external wallets at a 1:1 ratio.
Source: https://t.co/axjUedPv8R
— Bitcoin System (@bitcoinsystem) November 10, 2022
Some Altcoins, Including TRON, From FTX Will Be Easier To Withdraw To External Wallets
FTX at FTX after deal with Tron TRX, BTT, JST, SUN and HT announced that 1:1 withdrawals for some digital assets, including tokens, can be transferred to external wallets.
A Small step for the stability of crypto industry, a Big step for #FTX and #TRON users! We keep our commitment to #TRON holders including #TRX #BTT #JST #SUN #HT wherever they are. Hat off to the teams for building the Crypto Ark in such a short time @FTX_Official @HuobiGlobal https://t.co/mdJ38il3Mt
— HE Justin Sun🌞🇬🇩🇩🇲🔥 (@justinsuntron) November 10, 2022
FTX said the deal went live at 9:30 p.m. Turkish time and deposits will depend on factors such as withdrawal demand and Tron’s funding capacity.
The exact figures for future capital injections will be determined weekly and such injections will take place every week at 17:00 Turkish time.
FTX said it will disable Tron deposits for all users for the duration of injections and limit future deposits of tokens to the Tron team.
In its official announcement, FTX said:
“By providing a specific schedule for the amount of tokens to be issued and the corresponding time, our aim is to bring greater clarity to the market and enable users to make more informed decisions.”
FTX added that activated markets “may experience high volatility.”
FTX has asked users to ensure they understand the deal with Tron and the implications of the risks involved before transacting.
FTX collapse amid news that Binance will pull out of a deal to save the sinking stock market cryptocurrency market, and the total crypto market cap dropped below $1 trillion.
FTX will likely face bankruptcy unless it closes a nearly $10 billion deficit.
*Not investment advice.
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