Liquid has suspended all buying and selling operations on its platform consistent with instructions from FTX Buying and selling, the firm announced on Twitter on November. 20. The statement signifies that Liquid exchange stopped “all types of trading” due to the operation from the Chapter 11 process within the Delaware courts.
“We have since done this basically we measure the situation. We’re dealing with these problems and can try to provide a larger update in the end,” Liquid added.
Liquid’s operational halt comes 5 days following the exchange suspended all withdrawals on its platform, citing compliance using the needs of voluntary Chapter 11 proceedings. Japan’s Financial Services Agency formerly also requested another FTX’s local subsidiary, FTX Japan, to suspend business orders on November. 10.
As formerly as reported by Cointelegraph, Liquid isn’t the only FTX subsidiary that faced issues because of the ongoing personal bankruptcy proceedings of their parent firm. Bankrupt crypto loan provider Voyager Digital continues to be looking for another buyer after FTX US acquired its assets in September. Crypto exchange CrossTower has worked on the revised offer for Voyager’s assets because the firm has reopened the putting in a bid process, Cointelegraph reported on November. 13.
Related: Ripple to think about deals for FTX assets: Kaira Garlinghouse
Other FTX subsidiaries, including LedgerX — which does business as FTX US Derivatives — happen to be positively trying to spin from FTX. Based on a proper overview of FTX’s global assets, LedgerX was exempted like a debtor in FTX’s personal bankruptcy filing. Based on an evaluation through the financial services firm Perella Weinberg, many controlled or licensed subsidiaries of FTX have “solvent balance sheets, responsible management and valuable franchises.”
Perella Weinberg discovered that some FTX’s subsidiaries — including FTX Japan, Quoine, FTX Poultry Teknoloji Ve Ticaret, FTX EU, FTX Exchange FZE and Zubr Exchange — are debtors.
Japan cryptocurrency exchange Liquid is halting all buying and selling because of FTX declaring Chapter 11 personal bankruptcy protection within the U . s . States.
