On-chain data indicates that cryptocurrency exchange FTX, which is actively embroiled in conflict with competitor Binance, appears to have ceased processing withdrawal requests from users.
According to statistics from Etherscan, the last outbound transaction from FTX on the Ethereum network occurred over 4 hours ago. On-chain data reveals that the story is the same on the Solana and Tron networks too.
Since Binance CEO Changpeng Zhao announced that the exchange would start to sell its investments of FTT, FTX has started experiencing client withdrawals. Zhao claimed new discoveries as the reason for the choice, possibly alluding to a previous CoinDesk article that disclosed information on the balance sheet of Alameda Research.
Sam Bankman-Fried, CEO of FTX, attempted to soothe the market following Zhao’s remarks. He declared the exchange to be doing okay yesterday and urged FTX and Binance to collaborate for the industry’s benefit. At a price of $22 per token, Caroline Ellison, the CEO of Alameda offered to purchase Binance’s FTT investments.
According to information from CoinGecko, FTT is presently trading at about $17.50.