Crypto Exchange Liquid Suspends Withdrawals
Japan-based crypto exchange Liquid, which is owned by FTX, has suspended the withdrawal of funds in crypto assets and fiat currencies.
According to the announcement:
“Until further notice, we recommend not making deposits in fiat or cryptocurrencies.”
The team behind the platform has said that the decision is related to FTX Group’s filing for insolvency under Chapter 11 of the US Bankruptcy Code. Liquid has promised to publish additional information as it becomes available.
FTX took over the Japanese crypto exchange and related entities in February. The deal includes Singaporean Quoine Corporation and Quoine Pte. Liquid-branded platform Quoine was among the first recipients of FSA licenses in 2017.
Sam Bankman-Fried’s company announced last summer the launch of a local branch, renaming Liquid to FTX Japan K.K.