FTX US suspends withdrawals, according to channel data

The development comes less than 24 hours after the platform issued a notice urging its users to close trading positions

Following an announcement on November 10 that FTX US may suspend trading on its platform, on-chain data suggests that the platform suspended withdrawals from the US-based platform on November 11 November.

The initial announcement on November 10 warned users to "please close all positions" while maintaining that its users could still make withdrawals as this will remain open.

Although FTX CEO Sam Bankman-Fried, also known as SBF, insisted that FTX US was fine and unaffected by FTX's liquidity issues, it seems things escalated quickly as FTX US was included in a Chapter 11 bankruptcy filing in the United States.

On November 10, Bankman-Fried assured FTX US users in an apology that "FTX US, the US-based exchange that accepts Americans, has not been financially impacted by this shitshow." He added that the platform was "100% liquid" and "every user could opt out in full (modulo gas fees, etc.)".

19) Some other miscellaneous comments:

It was about FTX International. FTX US, the US-based exchange that accepts Americans, was not financially impacted by this shitshow.

It's 100% liquid. Each user can withdraw entirely (modulo gas costs, etc.).

Updates on its upcoming future.

To recap, FTX International's liquidity issues were sparked over the past seven days when Binance CEO Changpeng "CZ" Zhao announced that Bin...