Liquid suspends withdrawals

[Rikafip]

As the title says, Liquid announced that they are suspending all withdrawals, both crypto and fiat. Since they were acquired by FTX back in May, its no surprise that they are going down as well and I doubt that's the last exchange that is going to be affected with FTX downfall.


https://twitter.com/Liquid_Global/status/1592458596750856192?s=20&t=Y5M_kVSzu2U_EKeNYp36Cg

[1714098291]

1714098291

[1714098291]

1714098291

[1714098291]

1714098291

[1714098291]

1714098291

[dkbit98]

As the title says, Liquid announced that they are suspending all withdrawals, both crypto and fiat. Since they were acquired by FTX back in May, its no surprise that they are going down as well and I doubt that's the last exchange that is going to be affected with FTX downfall.

I never heard about Liquid before today, and when I saw a title of this topic I was thinking about Blockstream Liquid network.
If you look a the list of acquisitions FTX had (excluding investments) you will find more exchanges and crypto related companies are involved it this.
Next on the line is probably going to be little known exchange called Bitvo, Blockfolio is already not working properly, Voyager is already busted, and BlockFi is preparing for collapse according to latest news.

[cabron]

As the title says, Liquid announced that they are suspending all withdrawals, both crypto and fiat. Since they were acquired by FTX back in May, its no surprise that they are going down as well and I doubt that's the last exchange that is going to be affected with FTX downfall.

I never heard about Liquid before today, and when I saw a title of this topic I was thinking about Blockstream Liquid network.
If you look a the list of acquisitions FTX had (excluding investments) you will find more exchanges and crypto related companies are involved it this.
Next on the line is probably going to be little known exchange called Bitvo, Blockfolio is already not working properly, Voyager is already busted, and BlockFi is preparing for collapse according to latest news.

Liquid is an old exchange also known for its unscrupulous behavior listing tokens as IUO while it's in the ICO stage yet and then dumping the price when the ICO is over. FTX had also done this sort of behavior afaik with the tokens on SOL. So many of them falling even the exchange not affiliated with FTX are also halting withdrawals posturing maintenance.

They couldn't just say bankruptcy, they still poise Chapter 11.

[The Sceptical Chymist]

Liquid is an old exchange also known for its unscrupulous behavior listing tokens as IUO while it's in the ICO stage yet and then dumping the price when the ICO is over.

What the hell is even that?  Lol.  I've never heard of an IUO before--in fact, I'm beginning to realize there's a lot of really big stuff in the wide, wide world of crypto that I've been blissfully ignorant of, including FTX, Liquid, and any other entity associated with FTX.  I just recently learned they advertised during the superbowl and had several celebrity endorsements as well, which is no doubt common knowledge to the rest of you who stay in the loop and/or have used platforms like the ones in the midst of collapse.

I know I'm not alone in wondering what things are going to look like once all of this settles down and when, perhaps, the regulators have had something to say.  It seems like the majority of bigwigs in crypto have done harm to it rather than helping it--or maybe that's me being overly pessimistic. 

I'll be drinking at the bar down the street if anyone needs me. 

[Rikafip]

If you look a the list of acquisitions FTX had (excluding investments) you will find more exchanges and crypto related companies are involved it this.

Oh yeah, many more will go down as I read somewhere that all those altcoin projects Alameda invested in were basically forced to store their money on FTX.

Next on the line is probably going to be little known exchange called Bitvo, Blockfolio is already not working properly, Voyager is already busted, and BlockFi is preparing for collapse according to latest news.

As a matter of fact another lending platform announced today that they are suspending withdrawals and deposits and that's just a beginning.

Crypto lending platform Salt paused withdrawals and deposits, according to a company email sent to customers.
The firm said in a message attributed to CEO Shawn Owen that "the collapse of FTX has impacted our business." However, the full extent of the exposure was not disclosed in the message. 
"Until we are able to determine the extent of this impact with specific details that we feel confident are factually accurate, we have paused deposits and withdrawals on the SALT platform effective immediately,"

Lol.  I've never heard of an IUO before--in fact, I'm beginning to realize there's a lot of really big stuff in the wide, wide world of crypto that I've been blissfully ignorant of, including FTX, Liquid, and any other entity associated with FTX. 

That's one of the (many) advantages of being a bitcoiner as you don't have to follow closely everything that's going on on the market.

[Bitcoin_Arena]

Good riddance

I remember this exchange back in 2017, I even registered with it because some ICO I was participating in. A few months down the road, they just looked me out with not even a single warning. Luckily, I didn't have any funds there. I had no idea that the exchange still exists.

Lol, the blockade is still on

[cabron]

Liquid is an old exchange also known for its unscrupulous behavior listing tokens as IUO while it's in the ICO stage yet and then dumping the price when the ICO is over.

What the hell is even that?  Lol.  I've never heard of an IUO before--in fact, I'm beginning to realize there's a lot of really big stuff in the wide, wide world of crypto that I've been blissfully ignorant of, including FTX, Liquid, and any other entity associated with FTX.  I just recently learned they advertised during the superbowl and had several celebrity endorsements as well, which is no doubt common knowledge to the rest of you who stay in the loop and/or have used platforms like the ones in the midst of collapse.

I know I'm not alone in wondering what things are going to look like once all of this settles down and when, perhaps, the regulators have had something to say.  It seems like the majority of bigwigs in crypto have done harm to it rather than helping it--or maybe that's me being overly pessimistic. 

I'll be drinking at the bar down the street if anyone needs me. 

They have thier own market maker to elevate the price when the real price is below the ICO price. When ICO is over, the price is dumped and retail investors are lured to think its price still will go up. That is literally taking the money of users while most people here just advise buying BTC, but they market the token to be undervalued.

[Darker45]

Liquid is an old exchange also known for its unscrupulous behavior listing tokens as IUO while it's in the ICO stage yet and then dumping the price when the ICO is over.

What the hell is even that?  Lol.  I've never heard of an IUO before--

This was a trend way back when the ICO hype was still strong. IOUs represent ICO tokens that are not yet distributed, either because the ICO hasn't started yet or it hasn't ended yet or the distribution date hasn't yet arrived. But the tokens are already traded by way of IOUs.

The latest that I heard of an IOU being traded is when the weird Justin Sun's Poloniex offered ETHS (representing Proof Of Stake ETH) and ETHW (representing Proof Of Work ETH) before the scheduled Merge and possible fork.

I know I'm not alone in wondering what things are going to look like once all of this settles down and when, perhaps, the regulators have had something to say.  It seems like the majority of bigwigs in crypto have done harm to it rather than helping it--or maybe that's me being overly pessimistic.  

The regulators would probably go harder against crypto this time.

Crypto bigwigs are certainly doing harm instead of helping the original vision because they're after the money. They learned Bitcoin and went on to create centralized exchange platforms, centralized crypto banks, lending platforms, investment platforms, NFTs, shitcoins, and so on, all against the very reason why Bitcoin was created in the first place.

[Rikafip]

Term "Chapter 11" reminds me of Celcius bankruptcy where user personal data got exposed and probably can't get their money back. Liquid customer should expect their privacy could be compromised soon

Oh yeah, and the same thing will happen to FTX users as well.

And personally i find it's weird they doesn't suspend fiat/cryptocurrency deposit when they already suspend withdraw. Are they expecting additional money from few careless user?

True, that part was indeed weird and the reason is quite obvious. I just checked the situation it looks like they finally stopped deposits as well as few hours ago they announced it via twitter, almost 24 hours after blocking withdrawals. I guess they wouldn't even stop it yet if people weren't complaining under yesterday's tweet why is depositing still possible.
https://twitter.com/Liquid_Global/status/1592763572983324672