FTX Reportedly Processes Withdrawals On Its Crypto Trading Platform Again

FTX Reportedly Processes Withdrawals On Its Crypto Trading Platform Again

After stopping withdrawals on his crypto trading platform, FTX seems started processing withdrawals again based on certain blockchain data.

Cornered the other day by more than 6 billion dollars in withdrawal requests from its users, FTX had been forced to block them for lack of funds.

The crypto exchange thought it had found help from its rival Binance which finally gave up buying FTX which shows excessive losses, and which is also under investigation by the American authorities.

Breaking his silence, FTX CEO Sam Bankman-Fried apologized to his users, especially those who cannot get their funds back.
I fucked up (I screwed up) said the CEO in a series of tweets where he tries to explain how the crypto exchange FTX could find itself in such a catastrophic situation, causing the price of Bitcoin (BTC) to fall in the process.

It must be said that the overwhelming elements continue to accumulate for the CEO of FTX allegedly using $10 billion of FTX client funds to come to the aid of his other company Alameda Research, reveals the Wall Street Journal.

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Another issue facing FTX is that US authorities have asked Tether to freeze $46 million in USDT tokens owned by FTX.

Entangled in a dire financial situation that would require the injection of $8 billion, the crypto exchange FTX is now seeking help from Justin Sun of Tron (TRX) who is currently working on a rescue plan.

The resumption of withdrawals on FTX is therefore good news for users who will be able to withdraw their funds which were still blocked on the crypto trading platform.

It remains to be seen whether the CEO of FTX will be able to raise the billions of dollars needed to avoid the bankruptcy of this now distrustful crypto exchange.

the Bitcoin price is currently bouncing around $17,760click here to follow the BTC course live.

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