FTX May Have Halted Withdrawal Processing: On-Chain Data Reveals Liquidity Crunch

The crypto world is reeling as on-chain data reveals potential issues with withdrawal processing at cryptocurrency exchange FTX. The chaos continues. According to on-chain data, cryptocurrency exchange FTX appears to have stopped processing withdrawal requests. This development follows a period of intense speculation surrounding the exchange's financial health and a plummeting price for its native token, FTT.

According to The Block, FTX seems to have stopped processing clients' requests for withdrawals for over 2 hours. On-chain data shows that the last outgoing transactions from FTX wallets occurred hours ago, raising serious concerns about a potential liquidity crunch. On-chain data indicates that cryptocurrency exchange FTX appears to have ceased processing withdrawal requests. On the Ethereum blockchain, the last outbound transactions further underscore the halt.

Troubled cryptocurrency exchange FTX.com appears to have resumed withdrawals after pausing the service for more than 48 hours due to a severe liquidity crunch, but the initial pause has shaken investor confidence. Examining the blockchain offers crucial insights into the real-time status of fund movements. The cessation of outgoing transactions directly from FTX-controlled wallets suggests a possible freeze on withdrawal processing, confirming the issues and the liquidity concerns

In the midst of all of this, FTT, a token created by the crypto exchange FTX, has been plummeting over the last 24 hours. However, on-chain data reveals the possibility that the exchange may have temporarily halted withdrawals, exacerbating the already volatile market situation.

We are closely monitoring the situation and will continue to update this page with the latest information as it becomes available. Stay tuned for further developments regarding FTX and the impact on the broader cryptocurrency market.