{"id":273533,"date":"2022-11-08T15:32:51","date_gmt":"2022-11-08T15:32:51","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=273533"},"modified":"2022-11-08T15:32:51","modified_gmt":"2022-11-08T15:32:51","slug":"two-hours-without-withdrawals-puts-ftxs-liquidity-in-question","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/two-hours-without-withdrawals-puts-ftxs-liquidity-in-question\/","title":{"rendered":"Two hours without withdrawals puts FTX’s liquidity in question"},"content":{"rendered":"

On-chain data has shown that FTX has stopped processing withdrawals for around two hours.<\/p>\n

According to data analyzed by CryptoSlate, the last outgoing transaction from FTX on Ethereum was recorded at around 6:18 a.m. EST. Etherscan showed<\/a> no outgoing transaction from FTX's address since then, further fueling rumors about the exchange's liquidity position.<\/p>\n

\"ftx
Table showing the last five transactions from FTX's Ethereum address (Source: Etherscan.io)<\/figcaption><\/figure>\n

Solana<\/a><\/span> and Tron explorers showed an uninterrupted stream of outgoing transactions, leading some to speculate whether this was a technical issue.<\/p>\n

However, the exchange has been facing an unprecedented liquidity crisis. A report from Nansen showed that $1.2 billion in crypto has been withdrawn from FTX in the past 24 hours, with only $540 million in various tokens deposited. With a negative net flow of -$653 million and withdrawal pressure continuing to mount, the exchange is up for a difficult quarter.<\/p>\n

\n

24H total deposits to FTX: $540M
Total withdrawals: $1.2B<\/p>\n

Netflow: -$653M<\/p>\n

Note: $ETH<\/a> and ERC-20 tokens only pic.twitter.com\/YbNjpFREy6<\/a><\/p>\n

— Nansen \ud83e\udded (@nansen_ai) November 8, 2022<\/a><\/p><\/blockquote>\n