The bankruptcy of FTX, one of the world’s largest cryptocurrency exchanges, also deeply affected Hong Kong’s cryptocurrency platform Genesis Block. The platform has decided to cease all trading.
FTX’s eventful bankruptcy is a shock in the world of cryptocurrencies. domino effect and dragged some cryptocurrency exchanges to the brink of bankruptcy. On top of all this, Binance CEO CZ said, “About FTX:Investors are guilty too!‘ He said, which created a great controversy.
Today, Genesis Block, one of the world’s respected crypto money platforms, announced that it is one of the first to be affected by this domino effect.
All activities of the platform have been suspended
Hong Kong-based crypto money platform Genesis Block sent an e-mail to its users today, on December 10. will cease all trading explained. The company’s CEO, Wincent Hung, stated in an interview with Reuters that this decision remained in a risky situation after FTX’s bankruptcy, and therefore they decided to stop the operations.
“We have chosen to close all our positions to regain some of our liquidity.” said the CEO, that the websites have put the necessary warning and that all users with crypto assets on the platform stated that they had warned them to withdraw all of their assets.. In addition, as of today, new members will not be registered on the platform, and users who withdraw their assets can delete their accounts if they wish. permanently It was also stated that they could be deleted.
RELATED NEWS
FTX Bankruptcy Launches Domino Effect: Some Cryptocurrency Exchanges Announce They Are On The Verge Of Bankruptcy
Genesis Block, which offers the most reliable Bitcoin ATMs to 29 regions in Hong Kong, Announced that $175 million is also locked in FTX.
Source :
https://markets.businessinsider.com/news/currencies/crypto-news-top-hong-kong-firm-ends-trading-ftx-collapse-2022-11