Crypto exchange FTX’s founder Sam-Bankman Fried earlier ensured users that deposits and withdrawals are working fine, clarifying rumors surrounding illiquidity. As users faced difficulty removing their Bitcoin holdings from the crypto exchange, FTX revealed that the matching engine is working smoothly. Moreover, Bitcoin (BTC) withdrawals are facing difficulty due to limited throughput on nodes. Stablecoins redemptions will be affected until banks open.
FTX Facing Bitcoin and Stablecoins Liquidity Issues
Crypto exchange FTX in a series of tweets on November 7 revealed that all processes including the matching engine are working smoothly. However, Bitcoin withdrawals on FTX are facing difficulties as node is throughput limited. The crypto exchange is switching to process Bitcoin withdrawals from both ends to help speed up the process.
“BTC withdrawals: churning through them; node is throughput limited. We’re switching it to process from both ends, which should help speed it up.”
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