/cryptocurrency

News and resources on digital currencies, crypto assets and crypto exchanges worldwide.

FTX Europe to have licence suspended - Bloomberg

Embattled FTX is facing the suspension of its licence by the Cyprus Securities and Exchange Commission, revoking its ability to continue trading within the European Economic Area.

  1 Be the first to comment

FTX Europe to have licence suspended - Bloomberg

Editorial

This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community.

According to reports the decision could be announced on Friday, following a week of turmoil for the exchange which collapsed in dramatic fashion after experiencing a liquidity crunch.

The firm secured a CySEC license to operate as a Cyprus investment firm in September, allowing it to operate across the entire European Economic Area, including the EU as well as Iceland, Liechtenstein and Norway.

 

 


Earlier in the week Binance considered a takeover of its competitor, however backed out of acquisition talks after it emerged that FTX is grappling with multi billion dollar balance sheet losses. The founder and CEO used Twitter to apologise and explain his efforts to secure rescue financing, and is also facing investigation by authorities in the US.

 

Sponsored [On-Demand Webinar] Reaping the benefits of Hyper-Personalisation with AI and Application Modernisation

Comments: (0)

[Impact Study] 2024 Fraud Trends in Banking, Insurance, and BeyondFinextra Promoted[Impact Study] 2024 Fraud Trends in Banking, Insurance, and Beyond