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Liquid Global Halts Withdrawals as FTX Contagion Continues

15 Nov, 20222 min readOther
Liquid Global Halts Withdrawals as FTX Contagion Continues

Cryptocurrency exchange Liquid Global today said it is halting all withdrawals—both fiat and crypto—from the platform.

“Fiat and crypto withdrawals have been suspended on Liquid Global in compliance with the requirements of voluntary Chapter 11 proceedings in the United States,” the exchange stated on Twitter.

Liquid said it would provide further updates “when available,” advising customers not to make any deposits on the platform.

Fiat and crypto withdrawals have been suspended on Liquid Global in compliance with the requirements of voluntary Chapter 11 proceedings in the United States.Until further notice we would suggest to not deposit either FIAT or CryptoWe will provide updates when available.— Liquid Global Official (@Liquid_Global) November 15, 2022

Liquid Group and all of its operating subsidiaries, including the Japan-based Quoine Corporation and Quoine Pte. in Singapore, were acquired by FTX Trading Ltd in an undisclosed deal earlier this year.

Quoine's Liquid Exchange was one of the first crypto exchanges to be fully licensed by the Japan Financial Services Agency and has also applied for a license with the Monetary Authority of Singapore.

The exchange has its own utility token called QASH, which can be used to receive discounts on Liquid exchange fees.

The price of QASH plunged by 25% on today’s news, according to CoinGecko.

This story is breaking and will be updated shortly.

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