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FTX’s U.S. crypto exchange says trading may be halted in a few days

November 10, 2022, 7:26 PM UTC
Sam Bankman-Fried
Sam Bankman-Fried, founder and chief executive officer of FTX Cryptocurrency Derivatives Exchange, speaks during the Institute of International Finance (IIF) annual membership meeting in Washington, DC, US, on Thursday, Oct. 13, 2022.
Ting Shen/Bloomberg — Getty Images

FTX US, the American entity of Sam Bankman-Fried’s crypto exchange, said trading may be halted on FTX US in a few days. 

“Please close down any positions you want to close down. Withdrawals are and will remain open. We will give updates as we have them,” according to a notice on its website. 

Withdrawals are and will remain open, the company said. 

FTX.com and FTX US are separate entities with separate management personnel, tech infrastructure, and licensing, but have similar owners and investors, representatives for the firms have said in the past.

In recent days, the Securities and Exchange Commission and the Commodity Futures Trading Commission have asked for details about the ownership structure of FTX US and FTX.com, Bloomberg News has reported.

Regulators are interested in any overlap between management and board structures, and the financial relationship between the two entities. The agencies have also asked for details on whether customer accounts were properly segregated and the composition of the investor base at FTX.com.

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