This notice is from MOSDEX, the most advanced cryptocurrency arbitrage platform. Due to the events surrounding FTX because of liquidity crunch, the Mosdex platform will suspend trading support for FTX at 04:30, November 9th, 2022. FTX is no longer compliant to our risk assessment and therefore, the support for trading remains suspended until further notice. For more information, continue read below:
Notice for temporary Suspension of arbitrage bot for FTX Exchange.
Considering the liquidity issues, speculations and volatility issues surrounding FTX, it no longer passes MOSDEX's risk and security assessment test.
Exact time for arbitrage trading interruption time is: 2022-11-09 04:30 (UTC)
When will the arbitrage trade for FTX be resumed?
Given that adequate spot market security is ensured, and the liquidity issues are resolved, another risk assessment will be conducted and if the exchange passes it, trading may resume. MOSDEX reserves the right to update FTX's risk assessment at any time through the exchange evaluation process.
Note: Users are responsible and must understand exchange risk assessment and the risks associated with trading cryptocurrencies and digital assets. MOSDEX is not responsible for users' losses caused by abnormal transactions or unforeseen situations surrounding the digital assets/exchanges. We will continue to monitor all digital assets and exchanges that Mosdex Arbitrage platform uses for arbitrage and take appropriate actions in time to keep the platform and users assets secured.
According to the official MOSDEX channel, "MOSDEX has temporarily suspended arbitrage trading on FTX."
FTX, a large virtual asset (cryptocurrency) exchange, suffered a liquidity crisis and brought down the entire coin market. FTT tokens issued by FTX plunged more than 75% in one day, leading to a plunge of around 10% for most of the top coins by market capitalization. At the time of writing this press release, FTX has stopped withdrawing money and is negotiating an acquisition with Binance.
The sudden drop in the value of FTX's tokens has caused a ripple effect throughout the cryptocurrency market, leading to a sharp decline in prices for many of the top coins. This has caused some investors to panic, as fears of an FTX bankruptcy grow. However, Binance CEO Changpeng Zhao has stated that his company is in talks with FTX about a possible acquisition, which could help to stabilize the markets. MOSDEX has released an official statement regarding the recent FTX incident. In light of the recent FTX incident, MOSDEX has temporarily suspended arbitrage trading on the FTX platform.
For more details, please visit:
Mosdex website: https://mosdex.com/
Email: [email protected]
Source: Story.KISSPR.com
Release ID: 435906