Binance also made move to delist FTT
as told by woo blockchainA worrying drama is underway on Hong Kong-based crypto exchange, Bitcoin. The problem started when its users reported experiencing difficulty with withdrawals.
BitCoke issued an announcement saying that the person in charge of finance was cooperating with public security in an investigation and could not provide the private key authorization.
As a result, Bitcoin suspended withdrawals on November 13 at 1:00 PM Hong Kong time.
The BitCoke exchange case is surprising, as it revealed in May this year that it had raised $20 million in a strategic private round. The financing deal was reached with a group of investors led by the Huobi exchange, which also includes other notable institutions such as Redline DAO, Krypital, LD Capital, Hotbit and several others.
A month later, the exchange announced the launch of Bitcoin Ventures, its affiliated investment arm, and a $300 million investment fund to boost the exchange’s outreach.
The past week was a chaotic one that saw the collapse of the FTX empire and the ouster of founder Sam Bankman-Fried.
FTX halted withdrawals earlier this week, although some customers in countries including Turkey, Japan and the Bahamas were still able to make withdrawals on Friday. On Thursday, the FTX US subsidiary informed users that it may soon suspend trading, but said that withdrawals would not be affected.
Binance delists FTT pairs
Binance, the leading cryptocurrency exchange, announced that it will remove and delist FTT from some of its products — Simple Earn, its isolated and cross margins and perpetual contracts — to protect users.
Binance says it will close FTT pairings with BUSD, USDT and BTC on both the cross and isolated margin platforms on November 13th at 11:30am UTC. Binance Simple Earn will delist FTT from flexible products on November 14th at 4:30am UTC.
Likewise, Binance Liquid Swap will delist FTT/USDT, FTT/BUSD, FTT/BTC and FTT/BNB pairs on Nov. 14; the same holds for Binance Auto-Invest, which will delist FTT on the same date.
