FTX-Owned Liquid Exchange Suspends All Transactions After Withdrawal Stops

Liquid's operational shutdown comes five days after the exchange suspended all withdrawals due to FTX's bankruptcy filing.< /p> New

Liquid has suspended all trading operations on its platform in accordance with instructions from FTX Trading, the company announced on Twitter on November 20. The statement said Liquid Exchange has suspended "all forms of trading" due to the operation of the Chapter 11 proceedings in the Delaware courts.

“We have since done so while we assess the situation. We are working on these issues and will endeavor to provide a more comprehensive update in due course,” Liquid added.

Liquid's trading halt comes five days after the exchange suspended all withdrawals on its platform, citing compliance with the requirements of Chapter 11 Voluntary Procedures. another local FTX subsidiary, FTX Japan, to suspend trade orders on November 10.

As previously reported by Cointelegraph, Liquid is not the only FTX subsidiary to have run into trouble due to the ongoing bankruptcy proceedings of its parent company. Bankrupt crypto lender Voyager Digital attempted to find another buyer after FTX US acquired its assets in September. Crypto exchange CrossTower has been working on a revised bid for Voyager assets as the company reopens the bidding process, Cointelegraph reported on November 13.

Related: Ripple Considering Deals for FTX Assets: Brad Garlinghouse

Other FTX subsidiaries, including LedgerX – which does business as FTX US Derivatives – have been actively working to spin off from FTX. According to a strategic review of FTX's global assets,