Australia's Securities Regulator Cancels License Of FTX's Local Arm
Portfolio Pulse from Benzinga Neuro
The Australian Securities & Investments Commission (ASIC) has revoked the license of FTX’s Australian subsidiary, a cryptocurrency exchange. The cancellation will take effect on July 14. FTX, once valued at $32 billion, filed for U.S. bankruptcy protection in November, unable to fully repay customers. FTX founder Sam Bankman-Fried is facing a criminal lawsuit by the U.S. government for alleged fraud.
July 19, 2023 | 7:31 am
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NEGATIVE IMPACT
The cancellation of FTX's license may impact the trading volume of Bitcoin.
FTX is a major cryptocurrency exchange that facilitates Bitcoin trading. The cancellation of its license could lead to a decrease in its trading volume, potentially affecting the price of Bitcoin.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
The cancellation of FTX's license may impact the trading volume of Ethereum.
FTX is a major cryptocurrency exchange that facilitates Ethereum trading. The cancellation of its license could lead to a decrease in its trading volume, potentially affecting the price of Ethereum.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50