Cyprus regulator suspended FTX license

Cyprus regulator suspended FTX license

CySEC financial regulator intends to suspend the license of the European unit of the FTX crypto -tank. This is written by Bloomberg.

According to sources, the authorities will publish an appropriate decision on Friday, November 11.

Information about the suspension of the FTX EU LTD license has appeared on the CySEC website.

In March, Sam Bankman-Frida created FTX Europe, having received a license from Cysec. Then the purpose of the branch was called the expansion of the global presence through the development of the European market.

According to FTX, the license of the Cyprus regulator allowed it to "serve the entire European economic zone".

On November 6, CEO Binance Chanpen Zhao announced the company's desire to get rid of FTX FTX UTILITY-TOKEN. Assets with Busd in a total of ~ $ 2.1 billion steel by the company's output from portfolio investment in the platform.

On November 8, Sam Bankman-Fried and Zhao announced strategic partnership, but on November 10, Binance refused to absorb ftx. The company said that they could not solve the problems that have arisen at the exchange.

According to Bloomberg and WSJ, the “hole” in the balance of the platform amounted to $ 8 billion. However, Reuters voiced a large amount - $ 9.4 billion.

Recall that the Bahamas securities commission blocked the FTX Digital Markets assets and affiliated legal entities, as well as suspended the company's license in the country.

The Japanese Financial Services Agency ordered the local exchange to suspend the operations and go to Close-Only mode .

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