Breaking: FTX Temporarily Pause Withdrawals, On-chain Data Reveals

Breaking: FTX Temporarily Pause Withdrawals, On-chain Data Reveals

FTX US GAAP Audit Pass

According to recent data by Etherscan, the world’s second largest cryptocurrency exchange FTX has temporarily halted withdrawals on its platform, could Binance’s CZ claim be more serious than anyone imagined?

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FTX Temporarily Halts Withdrawals

On Sunday, Binance CEO tweeted in a thread that his exchange will be liquidating its FTX token position due to “recent revelations”, a tweet that prompted the FTX chief, Sam Bankman-Fried to slam Binance CEO on Monday, which according to SBF, “competitors are spreading false rumors about us,” referring to Binance’s CZ.

This news led to FTX native token, FTT plunging by a significant percentage.

Fast forward to Tuesday, November 8, data from Etherscan revealed that the FTX crypto exchange is temporarily halting withdrawals on its platform, leading to the industry taking CZ comments more seriously.

The news was first reported by TheBlock, and according to the report, the halts in withdrawals only affect ETH, Solana, and TRON.

“It appears that FTX has stopped processing on-chain withdrawals from at least their main identified wallets on Ethereum, Solana and Tron. This is weird as there presumably are still people queueing up waiting for their withdrawals,” the report said.

However, there has been a division about the report among the community members, while data from Etherscan proved this to be right, some users have denied the claim.

Hitherto, there is no official statement from the FTX exchange to confirm or debunk the report.

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