FTX US temporarily froze crypto withdrawals, adding to chaos of bankruptcy proceedings

11/12 00:15

According to Coindesk, FTX US temporarily ceased processing withdrawals around midday Friday before inexplicably restarting hours later, adding to the confusion of a chaotic week that saw the ouster of exchange CEO Sam Bankman-Fried. The manual shutdown occurred shortly after midday New York time, according to a person familiar with the matter as well as on-chain data. But later Friday the exchange appeared to resume processing withdrawals. FTX itself had halted withdrawals earlier this week, though customers in certain jurisdictions, such as Japan, the Bahamas and Turkey – were able to begin withdrawing some funds by Friday. FTX US on Thursday warned users it might halt trading in the coming days, but said withdrawals would not be impacted.

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