Crypto Exchange FTX Saw $6 bln in withdrawals in 72 Hours
Crypto exchange FTX saw around $6 billion of withdrawals in the 72 hours before Tuesday morning, according to a message to staff sent by its CEO Sam Bankman-Fried that was seen by Reuters.
FTX Implosion Has U.S. Rgulators on Watch
U.S. regulators are monitoring the implosion of crypto exchange giant FTX, which announced earlier today that it is selling FTX.com to rival exchange Binance.The Commodity Futures Trading Commission is watching the situation, but, "any regulatory issues right now are unclear," spokesperson Steven Adamske told The Block.
FTX-Binance Conflict May Cause Great Harm to All Crypto Space: OKX Founder
Star Xu, founder of the OKX exchange, has taken to Twitter to express his concerns about the war between Binance and FTX – the two largest crypto exchanges in the crypto space. "FTX-Binance conflict may hit the whole space" He stated that if FTX Token (FTT) becomes the new LUNA, meaning that the latter hits the crypto market so hard that Bitcoin and altcoins plunged, there would not be a single player in the space who would be able to benefit from it, including Binance. Customers and, what is most important, the regulators, would lose confidence in crypto, Star Xu stressed in his tweet. He believes the only way out of this is to get CZ to stop selling the FTT bags of Binance and strike a new deal with FTX co-founder Sam Bankman Fried.
