As part of this agreement, we will be disabling Tron deposits for all users during this period. The only deposits will be the pre-announced deposits conducted weekly by the Tron Team. Initially, $13,000,000 of assets will be deployed to facilitate such swaps.
...and funding capacity to be provided by Tron. By providing a set schedule of the amount of tokens to be introduced into the market and the corresponding time, our goal is to provide more clarity to the market allowing users to make better informed decisions.
FTX Announcement Regarding the Tron Credit Facility:
We are pleased to announce that we have reached an agreement with Tron to establish a special facility to allow holders of TRX, BTT, JST, SUN, and HT to swap assets from FTX 1:1 to external wallets.
Sources are claiming that FTX US lent out $200-400M to BlockFi and there is now a gap in FTX US balance sheet/equity. BlockFi has a $400M line of credit which an insider is confirming has been tapped. This directly contradicts SBF's earlier statement that FTX US is not affected.
15) First, one way or another, Alameda Research is winding down trading.
They aren't doing any of the weird things that I see on Twitter--and nothing large at all. And one way or another, soon they won't be trading on FTX anymore.
16) Second, in any scenario in which FTX continues operating, its first priority will be radical transparency--transparency it probably always should have been giving.
Giving as close to on-chain transparency as it can: so that people know *exactly* what is happening on it.
19) A few other assorted comments:
This was about FTX International. FTX US, the US based exchange that accepts Americans, was not financially impacted by this shitshow.
It's 100% liquid. Every user could fully withdraw (modulo gas fees etc).
Updates on its future coming.
We hope this is just step one: beginning to find ways to bring liquidity to users.
That is the core thing that I am fighting for right now, and will continue to fight for in whatever ways I can.
1) Per our Bahamian HQ's regulation and regulators, we have begun to facilitate withdrawals of Bahamian funds. As such, you may have seen some withdrawals processed by FTX recently as we complied with the regulators.
2) The amounts withdrawn comprise a small fraction of the assets we currently hold on hand and we are actively working on additional routes to enable withdrawals for the rest of our userbase. We are also actively investigating what we can and should do across the world.
We are following the guidance of the JFSA and will be putting https://t.co/XblZK9n7s1 into close-only mode
@FTX_JP is a separate entity that strictly follows the Japanese regulation on asset segregation https://t.co/q3bYGEuNIw
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