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FTX-Owned Crypto Exchange Liquid Suspends Trading for Bankruptcy Proceedings – Here's What Happened

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Liquid Global, a Japan-based crypto exchange owned by now-bankrupt exchange FTX, has halted all trading after being “instructed” to do so by the law firm handling the bankruptcy.“We have been instructed by [law firm Sullivan & Cromwell], who act for FTX Trading, to pause all forms of trading on our exchange because of the operation of the Chapter 11 process in the Delaware Courts,” a tweet from Liquid Global’s official Twitter account on Sunday said.The company added that it will “assess the situation” and said it is “working through these issues.”At the time of writing, a similar notice could also be seen on the home page of the exchange’s website.

The notice added that a fuller update will be given “in due course:”The notice that trading has been halted came after the same exchange on November 15 said it had halted all customer withdrawals “in compliance with the requirements of voluntary Chapter 11 proceedings in the United States.”In August last year, Liquid experienced a hack for around $86m, after which it received a $120 loan from FTX.

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