FTX Appears to Be Processing Some Withdrawals Again Based on Chain Data: Nearly $7M Withdrawn
For the last 48 hours withdrawals have been frozen but some seem to be processing now. This comes following a tweet thread released by FTX Founder Sam Bankman-Fried earlier today on a potential path forward.
- For the last 48 hours withdrawals have been frozen but some seem to be processing now.
- According to chain data, it appears that nearly $7M worth of withdrawals have been processed today.
- This comes following a tweet thread released by FTX Founder Sam Bankman-Fried earlier today on a potential path forward.
1) I'm sorry. That's the biggest thing.
— SBF (@SBF_FTX) November 10, 2022
I fucked up, and should have done better.
- Despite claims from SBF that all hope is not lost, the safe assumption here is that FTX will not be saved and customers that are not able to withdraw will have to go through a lengthy bankruptcy proceeding to potentially recover whatever funds remain.
- Our full timeline of the FTX collapse can be found here. We will update it as the situation continues.
- Update Nov 10 21:42 UTC: Withdraws seem to be connected to Bahamian individuals and entities only per tweets from FTX's Head of Institutional Sales
2) The amounts withdrawn comprise a small fraction of the assets we currently hold on hand and we are actively working on additional routes to enable withdrawals for the rest of our userbase. We are also actively investigating what we can and should do across the world.
— Zane Tackett (@tackettzane) November 10, 2022
- Update Nov 10 21:42 UTC: Tron, FTX broker deal for customers to withdraw certain tokens
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