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FTX bankruptcy: Withdrawals suspended at several cryptocurrency platforms

18/11/2022
Categories: Economy/Forex

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Victims of the FTX bankruptcy, several cryptocurrency platforms have had to suspend some withdrawals in recent days. FTX itself explained in a series of tweets that some partner sites to which it had loaned funds had themselves stopped withdrawals for their customers.

The crypto sector is experiencing a domino effect. Indeed, the French pearl Coinhouse has confirmed that it has blocked the exits on its crypto account, presented as a cryptocurrency savings product. Among its partners was Genesis, which had entrusted cryptocurrencies to Alameda, a kind of speculative arm of FTX, forced to file for bankruptcy last Friday.

“Global tensions in the crypto market and pressure on liquidity” have been mentioned by Coinhouse. The CFO of Coinbase, Alesia Haas, one of the giants in the sector, believed that the entire crypto system was not in danger. But according to him, “it will take several days or weeks to realize the contagion caused by this event and understand who was exposed.”

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