# Breaking: FTX appears to have resumed withdrawals, blockchain data shows
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” Breaking: FTX appears to have resumed withdrawals, blockchain data shows “
Earlier in the day, Sam Bankman-Fried, CEO of FTX, stated on Twitter that FTX had about $16 billion of total assets against $10 billion of total liabilities. However, the exchange is suffering a major liquidity crunch as its native FTX Token (FTT), which FTX uses partly as collateral, plunged by over $8 billion in the past week. This was compounded by over $5 billion of consumer withdrawal requests on Nov. 6, as well as allegations that the exchange was lending out deposits to crypto trading firm Alameda Research. Bankman-Fried stated that he was attempting to raise new capital to resolve the situation after a failed Binance bailout.
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.
— SBF (@SBF_FTX) November 10, 2022
Update Nov. 10, 5:10 pm UTC: Although there has been no official announcement, multiple unconfirmed reports by Twitter users, along with further blockchain data, show that funds are indeed being withdrawn from the exchange. However, others have complained that they continue to wait for withdrawal requests filed days ago to be processed. Currently funds at leaving the FTX hot wallet at a rate of approximately 2 to 3 transactions per minute.
This is a developing story, and further information will be added as it becomes available.
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