Coin Gabbar Token

<ul><li>FTX, a cryptocurrency exchange, is having trouble processing Bitcoin withdrawals and stablecoin redemptions.</li><li>The exchange earlier reported that all operations are running smoothly amid the FTX-Binance conflict.</li><li>The price of FTX (FTT) token dropped 8% in the last 24 hours.</li></ul><h2 id="header-0">FTX&#39;s founder, Sam Bankman-Fried, earlier assured users that deposits and withdrawals are functioning properly, dispelling fears about illiquidity.</h2>As users struggled to withdraw their Bitcoin holdings from the crypto exchange, <a href="https://www.coingabbar.com/en/crypto-currency/ftx-token-ftt-prices-usd" rel="noopener noreferrer nofollow">FTX</a> revealed that the matching engine is operational. Furthermore, Bitcoin (BTC) withdrawals are hampered by limited node traffic. Stablecoin redemptions will be impacted until banks reopen.FTX Facing BTC &amp; Stablecoins Liquidity IssuesOn November 7, cryptocurrency exchange FTX reported in a series of tweets that all processes, including the matching engine, are running smoothly. However, Bitcoin withdrawals on FTX are being hampered because the node&#39;s capacity is limited. To assist in speed up the process, the crypto exchange is switching to processing Bitcoin withdrawals from both ends.“BTC withdrawals are being processed; the node&#39;s throughput is limited. We&#39;re changing it to process from both sides, which should speed things up.”Bitcoin transactions have been stalled for the last 5-10 hours, according to FTX users. The fear surrounding the FTX and Alameda liquidations grows as people relate it to past liquidity crises.Furthermore, the crypto exchange has informed users about the difficulty in redeeming stablecoins. It stated that stablecoin creation and redemption may be delayed until banks that clear wire payments open. FTX holds bank reserves and converts to stablecoins when needed.The FTT liquidations and halted withdrawals are having a huge impact on the cryptocurrency market. The price of FTX Token (FTT) is currently trading at $22.50, down about 5% in the last 24 hours.Binance Dumping FTT TokensBinance CEO &#34;CZ&#34; announced on November 6 that he would be <a href="https://www.coingabbar.com/en/crypto-currency-news-english/binance-ceo-confirms-transfer-dollarm-ftt-tokens-binance" rel="noopener noreferrer nofollow">liquidating all of his FTX Token</a> (FTT) holdings over the next few months. In fact, Binance sold its FTX ownership last year for $2.1 billion in FTT and BUSD. The company has already transferred $584 million in tokens, leading the FTT price to drop by more than 10%.Meanwhile, several Alameda-related transactions continue to appear on Twitter. Data show that Alameda transferred 26,600 ETH and Blockfolio transferred 13,555 ETH to FTX as the crypto exchange&#39;s ETH holdings plummeted dramatically.Read also: <a href="https://www.coingabbar.com/en/crypto-currency-news-english/opensea-releases-chain-mechanism-enforce-nft-royalties" rel="noopener noreferrer nofollow">OpenSea Releases An On-Chain Mechanism To Enforce NFT Royalties</a>

FTX Clarifies BTC Transaction Difficulties Amid FTX-Binance Dispute

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