Updated Nov 10, 2022 - Economy

FTX.com has resumed withdrawals

Illustration of a money ball inside a clam.

Illustration: Lindsey Bailey/Axios

Troubled exchange FTX has resumed withdrawals, according to a CoinDesk report, and outflows data on Etherscan, a tool for viewing transactions on the Ethereum blockchain.

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.

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