April 20, 2024

FTX To Temporarily Suspend ETH Deposits And Withdrawals During The Ethereum Merge

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FTX To Temporarily Suspend ETH Deposits And Withdrawals During The Ethereum Merge

The FTX trading platform will temporarily suspend deposits and withdrawals of ether on the Arbitrum, Solana, and BSC blockchains.

Cryptocurrency exchange FTX has joined members of the crypto community, whose members have decided to take proactive measures to ensure the safety of investors' funds during the period of the Ethereum network merge.The temporary suspension of transactions on FTX will be in effect until the completion of the September network upgrade.

Ether deposits and withdrawals will be suspended on Arbitrum One ETH, from 00:00 UTC on September 7; Solana ETH and Binance Smart Chain (BSC) ETH, from 00:00 UTC on September 15.The FTX team reserves the right to make changes to the published suspension schedule at any time.

FTX representatives reminded traders to keep track of time and manage their positions.As has been observed many times in the cryptocurrency market, major network upgrades, hard forks, and merges have led to sudden price fluctuations.Therefore, traders should soberly assess the market dynamics and possible risks before investing in digital assets during such global events.

At the end of August , the authorities of South Korea's second-largest city, Busan, launched
A joint project with the FTX trading platform aimed at integrating blockchain into the city's ecosystem.