Breaking: FTX Allegedly Stops Processing Withdrawals

Alex Dovbnya

One of the largest cryptocurrency might have stopped processing withdrawals, according to on-chain data

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Tue, 8/11/2022 - 14:02

Breaking: FTX Allegedly Stops Processing Withdrawals

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Cryptocurrency exchange FTX has allegedly stopped processing withdrawals.

Earlier today, social media users started complaining about not being able to withdraw their crypto for a couple of hours.

This came amid speculation about FTX's alleged financial troubles that took a toll on cryptocurrency prices this Tuesday.

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On Monday, FTX CEO Sam Bankman-Fried tweeted that his crypto empire was "fine" in an attempt to calm the market.

However, the FTT token is down more than 23% over the last 24 hours.

#Bitcoin News #Ethereum News #Cryptocurrency exchange

About the author

Alex Dovbnya

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.