{"id":69936,"date":"2022-11-11T15:27:37","date_gmt":"2022-11-11T13:27:37","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=69936"},"modified":"2025-09-07T22:58:29","modified_gmt":"2025-09-07T19:58:29","slug":"cyprus-regulator-suspends-ftx-license","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/cyprus-regulator-suspends-ftx-license\/","title":{"rendered":"Cyprus regulator suspends FTX license"},"content":{"rendered":"

The Cypriot financial regulator (CySEC) intends to suspend the license of FTX’s European subsidiary. Bloomberg<\/a>.<\/p>\n

According to sources, authorities will publish the corresponding decision on Friday, November 11.<\/p>\n

\\\"Cyprus
Data: CySEC<\/a>.<\/figcaption><\/figure>\n

\\n\\n\\n\\n<\/p><\/div>\n

\\n\\n\\n\\n<\/p>\n

In March, Sam Bankman-Fried’s created FTX Europe<\/a>, having obtained a license from CySEC. At the time, the unit’s stated aim was to expand global presence by tapping the European market.<\/p>\n

According to FTX, the Cypriot regulator’s license allowed it to “service the entire European Economic Area.”<\/p>\n

On November 6, Binance CEO Changpeng Zhao stated<\/a> that the company aimed to dispose of FTX’s utility token FTT. The assets, together with BUSD, totaled about $2.1 billion, marking the end of the company’s exit from its portfolio investment in the platform.<\/p>\n

On November 8, Sam Bankman-Fried and Zhao announced<\/a> a strategic partnership, but on November 10 Binance pulled out of acquiring FTX<\/a>. The company said it would not be able to resolve the exchange’s problems.<\/p>\n

According to Bloomberg and WSJ, the platform’s balance-sheet hole stood at $8 billion<\/a>. However Reuters put a higher figure \u2014 $9.4 billion<\/a>.<\/p>\n

As a reminder, the Bahamas Securities Commission blocked assets of FTX Digital Markets<\/a> and affiliated entities, and suspended the company’s license in the country.<\/p>\n

The Japan Financial Services Agency ordered the local unit to suspend operations<\/a> and switch to a close-only regime. close-only<\/span>.<\/p>\n

Read ForkLog’s bitcoin news in our Telegram<\/a> \u2014 cryptocurrencies news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Cypriot financial regulator (CySEC) intends to suspend the license of FTX’s European subsidiary, according to Bloomberg.<\/p>\n","protected":false},"author":1,"featured_media":69937,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[733,1236],"class_list":["post-69936","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-europe","tag-ftx"],"aioseo_notices":[],"amp_enabled":true,"views":"26","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/69936","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=69936"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/69936\/revisions"}],"predecessor-version":[{"id":69938,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/69936\/revisions\/69938"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/69937"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=69936"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=69936"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=69936"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}