FTX US suspends withdrawals, according to on-chain data

FTX US suspends withdrawals, according to on-chain data

Following an announcement made 24 hours ago that FTX US may halt trading on its platform, on-chain data reveals that the platform paused withdrawals from the United States-based platform on Nov. 11.

The original announcement on Nov. 10 cautioned users to “please close down any positions” while maintaining that its users would still be able to make withdrawals, as that will remain open.

Although the FTX CEO Sam Bankman-Fried, also known as SBF, remained insistent that FTX US was fine and had been unaffected by FTX liquidity issues, it appears things may have spiraled rapidly, as FTX US was included in a Chapter 11 bankruptcy filing in the United States.

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On Nov. 10, Bankman-Fried assured FTX US users in an apology that “FTX US, the US based exchange

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