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

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

Cryptocurrency exchange FTX has joined the crypto community in a decision to take proactive measures to ensure the safety of investor funds during the merger of the Ethereum network. The temporary suspension of transactions on FTX will remain in effect until the completion of the September network upgrade.

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

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

At the end of August, the authorities of Busan, the second largest city in South Korea, launched a joint project with the FTX trading platform aimed at integrating the blockchain into the urban ecosystem.

Source: Bits

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