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    QONEQT in Tether

    11-Nov-2022 06:53 AM


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    Tether CTO confirms no plans to rescue FTX

    Cryptocurrency exchange FTX has lost at least one potential rescuer as it battles to fill a reported multi-billion dollar hole in its balance sheet.
    Tether does not have any plans to invest or lend money to FTX/Alameda.
    It is not currently understood whether OKX or Sequoia Capital is considering support for the embattled exchange.
    However, Lennix Lai, director of financial markets at OKX previously told Reuters on Nov. 9 that Bankman-Fried asked for up to $4 billion from the exchange to help cover FTX liquidity issues, though didn’t confirm if the company would assist FTX.
    Related: Genesis Trading reveals $175M of funds are locked in FTX So far, FTX appears to only be able to continue limited withdrawals through a deal with the Tron blockchain allowing its assets to be swapped 1:1 with external wallets.