American trading platform FTX has requested a suspension of payments. Founder and CEO Sam Bankman-Fried will also leave the company. This was reported by the crypto exchange Twitter. FTX is struggling with a deficit of almost 9 billion euros.
FTX has been around for a while now, where users can open a crypto account and coins could move. The company was seeking financing, while customers were withdrawing their deposits en masse. Meanwhile, regulators froze some of the company’s assets.
Earlier, Reuters sources reported that the US Securities and Exchange Commission has been investigating FTX for months.
No inheritance
Crypto exchange Binance was supposed to take over FTX, but on Wednesday evening it was reported that the deal would not happen. He said in a statement he had money problems “Be too big to handle” in FTX.
As a result, the value of all cryptocurrencies, including bitcoin, fell sharply. Compared to Sunday, bitcoin is not lower than 21 percent. This is the lowest level since the end of 2020.
The situation of FTX also created great excitement in the stock market. Crypto firms, including Coinbase, Riot Blockchain, and Marathon Digital, lost nearly 5 percent on Friday as Wall Street began trading.
Source: NOS
Jason Jack is an experienced technology journalist and author at The Nation View. With a background in computer science and engineering, he has a deep understanding of the latest technology trends and developments. He writes about a wide range of technology topics, including artificial intelligence, machine learning, software development, and cybersecurity.
