The collapse of the crypto exchange FTX continues to wreak havoc across the industry, new companies are filing for bankruptcy as contagion spreads. Liquid Global, a crypto trading venue acquired by the failed exchange, halted operations due to recent events.
According to an official announcement, Liquid Global filed for Chapter 11 bankruptcy protection in the United States. As an FTX subsidiary, the company claims it must comply with the bankruptcy proceedings in this country. The company stated:
Due to the Chapter 11 filing by FTX Trading International the ultimate beneficial owner of Quoine Pte. Ltd, Liquid Exchage (Quoine Pte.) is halting all withdrawals – both fiat and crypto currency (…). Fiat and crypto withdrawals have been suspended on Liquid Global in compliance with the requirements of voluntary Chapter 11 proceedings in the United States. Until further notice we would suggest to not…
