FTX.com has resumed withdrawals
Why it matters: FTX, one of the largest cryptocurrency exchanges in the world, sent panic through the crypto markets when it quietly stopped permitting withdrawals on Tuesday morning. The firm is scrambling to find new investors in order to stave off collapse.
- One Tuesday, FTX announced a liquidity crunch forced it to seek a rescue from Binance.
- But on Wednesday, that deal fell apart.
Of note: As of 11:35 AM ET, FTX.com still has a notice in a red band at the top of its homepage that says, "FTX is currently unable to process withdrawals. We strongly advise against depositing."
FTX declined comment to Axios.