{"id":14529,"date":"2022-11-15T20:30:18","date_gmt":"2022-11-15T20:30:18","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/2-more-crypto-platforms-pause-withdrawals-as-liquid-global-and-salt-lending-cite-exposure-to-ftx-bitcoin-news\/"},"modified":"2022-11-15T20:30:18","modified_gmt":"2022-11-15T20:30:18","slug":"2-more-crypto-platforms-pause-withdrawals-as-liquid-global-and-salt-lending-cite-exposure-to-ftx-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/2-more-crypto-platforms-pause-withdrawals-as-liquid-global-and-salt-lending-cite-exposure-to-ftx-bitcoin-news\/","title":{"rendered":"2 More Crypto Platforms Pause Withdrawals as Liquid Global and Salt Lending Cite Exposure to FTX \u2013 Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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On Nov. 15, 2022, the crypto exchange Liquid Global revealed that it has suspended fiat and crypto withdrawals \u201cuntil further notice.\u201d The same day, customers leveraging the crypto lending platform Salt were also informed that Salt has paused withdrawals and deposits. Furthermore, the crypto lender Blockfi is reportedly in the process of filing for Chapter 11 bankruptcy protection. Blockfi halted withdrawals five days ago and the lender said on Monday that the pause would continue. <\/strong><\/p>\n

Crypto Firms Liquid Global and Salt Lending Pause Operations<\/h2>\n

Two more crypto companies have informed their clients that the firms have paused withdrawal operations following the collapse of the digital currency exchange FTX. According to the official Liquid Global<\/a> Twitter account, Liquid has suspended both crypto and fiat withdrawals.<\/p>\n

\u201cFiat and crypto withdrawals have been suspended on Liquid Global in compliance with the requirements of voluntary Chapter 11 proceedings in the United States,\u201d the company tweeted<\/a>. \u201cUntil further notice, we would suggest to not deposit either fiat or crypto. We will provide updates when available,\u201d the exchange added.<\/p>\n

Liquid Group was acquired<\/a> by FTX Trading Ltd. last May plus all of the company\u2019s subsidiaries including Quoine. At the time, Liquid said the \u201ceconomic terms of the deal have not been disclosed.\u201d<\/p>\n

Not too long after the Liquid news concerning withdrawals, customers using the crypto lender Salt<\/a> were reportedly informed<\/a> that Salt has paused withdrawals. Letter recipients who shared the news on Twitter say Salt\u2019s CEO Shawn Owen wrote the note. Salt\u2019s disclosure highlights that \u201cthe collapse of FTX has impacted\u201d the business. The firm needs to assess the extent of the damage and until then, withdrawals will remain paused.<\/p>\n

\u201cUntil we are able to determine the extent of this impact with specific details that we feel confident are factually accurate, we have paused deposits and withdrawals on the Salt platform effective immediately,\u201d the letter to Salt customers details. The Salt and Liquid news follow the crypto lender Blockfi pausing withdrawals<\/a> on Nov. 10, 2022.<\/p>\n

Blockfi recently updated<\/a> customers on Nov. 14 and noted that withdrawals were still paused until further notice. \u201cWe determined late last week that in the current environment we could no longer operate our business as usual,\u201d Blockfi\u2019s blog post details. \u201cGiven that FTX and its affiliates are now in bankruptcy, the most prudent decision for us, in the interest of all clients, is to continue to pause many of our platform activities for now,\u201d the crypto lender added. According to a Wall Street Journal (WSJ) report<\/a>, Blockfi may be in the process of filing for Chapter 11 bankruptcy protection, according to people familiar with the matter.<\/p>\n

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\nTags in this story
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Bankruptcy<\/a>, Blockfi<\/a>, contagion<\/a>, Crypto lender<\/a>, deposits<\/a>, Exposure<\/a>, ftx<\/a>, FTX collapse<\/a>, FTX Exchange<\/a>, halting operations<\/a>, Liquid<\/a>, Liquid Global<\/a>, Liquid Salt<\/a>, pausing operations<\/a>, pausing withdrawals<\/a>, Salt<\/a>, Salt Lending<\/a>, Salt Liquid<\/a>, Withdrawal Pause<\/a>, Withdrawals<\/a><\/div>\n<\/div>\n

What do you think about Liquid and Salt pausing withdrawals over exposure to FTX? Let us know what you think about this subject in the comments section below.<\/strong><\/em><\/p>\n

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\nJamie Redman <\/h6>\n

\nJamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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