Liquid Global, a Japan-based crypto exchange owned by now-defunct exchange FTX, has halted all trading after being “instructed” to do so by the law firm handling the bankruptcy.
“We are instructed [law firm Sullivan & Cromwell]A tweet from the official Twitter account of Liquid Global said on Sunday, which serves for FTX trading, to halt all forms of trading on our exchange due to the conduct of the Chapter 11 process in the Delaware Court.
The company said it would “assess the situation” and added that it was “working on these issues.”
Till the time of writing this news, a similar notice can also be seen on the home page of the website of the exchange. The notice states that a full update will be given “in due course:”
Trading has been halted on November 15 after the same exchange said Withdrawals of all customers stopped “Complying with the Requirements of Voluntary Chapter 11 Proceedings in the United States.”
Liquid was hacked last year
In August last year, Liquid experienced a hack for approximately $86m, after which it received a $120 loan from FTX. ftx gone again get liquid in february This year in a move for an undisclosed sum that was seen as part of FTX’s expansion into Japan.
“FTX is pleased to announce the acquisition of Liquid Group of companies, which includes a [Financial Services Agency]Registered cryptoasset exchange in Japan to provide products and services to our customers,” former FTX CEO Sam Bankman Fried tweeted at the time.
FTX declared bankruptcy On 11 November, following a run on deposits and subsequent collapse of the exchange. At the same time, Sam Bankman-Fried resigned from the post of CEO. almost 130 FTX-affiliated companies Including FTX’s parent company and major crypto market maker Alameda Research are part of Chapter 11 bankruptcy.
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