FTX The exchange’s decision to open a demand period at prices significantly different from current market values sparked reactions among users. The bankrupt crypto exchange became the target of theft allegations due to the significant price difference observed during the demand period.
A report published by Wu Blockchain highlighted price differences during the demand period for major cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and Binance Coin (BNB), causing great concern among users.
According to the report, the pricing set in FTX’s demand window is set at $16,871 for BTC, $1,258 for ETH, $16.24 for SOL, and $286 for BNB. However, these prices were significantly different from the current market prices of $62,144 for BTC, $3,424.62 for ETH, $129.96 for SOL, and $411.32 for BNB.
Users expressed serious concerns that FTX was not fair and transparent and aired their complaints on social media.
As the reactions increased, PwC released an official statement regarding the situation regarding FTX. PwC, FTX Digital Markets Ltd’s FTX Trading Ltd. and that it entered into a Chapter 11 agreement aimed at consolidating its assets with its affiliated debtors.
FTX Announces Bankruptcy
FTX recently issued a warning regarding its authorized investment manager. In its first monthly communication to stakeholders, the company announced that it has moved to the
As a result, any offer to sell or request to buy should only be made through Galaxy Asset Management. The company advised interested parties, especially institutional buyers or those who comply with relevant regulations, to take note of this directive.
FTX stated that some unauthorized third parties have begun to attempt to bid on behalf of certain FTX Borrowers and that the company has taken measures to prevent this situation. The FTX team emphasized that it is ready to handle such scenarios and has implemented protocols to prevent potential exploitative situations.
