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FTX-owned crypto exchange Liquid halts all withdrawals.

FTX-owned crypto exchange Liquid halts all withdrawals.

Japanese cryptocurrency exchange Liquid is the latest company to halt withdrawals amid the ongoing crisis affecting centralized crypto exchanges. Liquid Global Platform. Regarding the reasons for the stay, Liquid cited compliance with the United States’ voluntary Chapter 11 filing, noting, “Upon the filing of Chapter 11 by FTX Trading International, the ultimate beneficial owner of Quoine Pte.” Liquid Exchange (Quoine Pte.) holds all fiat and cryptocurrency payouts.

The exchange stressed that the latest measures were “not a security disruption,” adding that it would provide more information later. The company also suggested that its users only deposit fiat or cryptocurrencies once more updates are available. The news comes shortly after Liquid claimed that customer funds in Liquid wallets were not affected by the FTX contagion as the FTX exchange halted all withdrawals on Nov. 10. “We have performed initial checks and are not seeing any unusual activity,” Liquid said. In a November tweet.

However, Liquid immediately announced the suspension of cryptocurrency withdrawals at Liquid Global as a “precautionary measure” until “additional security checks are completed.”

The Nov. 12 statement was Liquid’s first appearance on Twitter since late August 2022. It came shortly after Japan’s financial services regulator, FTX, asked Japan to suspend trading orders on Nov. 10. Founded in 2014, Liquid is a significant cryptocurrency exchange licensed under the Japan Payment Services Law through its Japanese operating unit, Quoine Corporation.

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