FTX Appears to Be Processing Withdrawals Again Based on Chain Data: Nearly $7M Withdrawn

For the last 48 hours withdrawals have been frozen but some seem to be processing now.According to chain data, it appears that nearly $7M worth of withdrawals have been processed today.This comes following a tweet thread released by FTX Founder Sam Bankman-Fried earlier today on a potential path forward.

1) I’m sorry. That’s the biggest thing.

I fucked up, and should have done better.

— SBF (@SBF_FTX) November 10, 2022

Despite claims from SBF that all hope is not lost, the safe assumption here is that FTX will not be saved and customers that are not able to withdraw will have to go through a lengthy bankruptcy proceeding to potentially recover whatever funds remain.Our full timeline of the FTX collapse can be found here. We will update it as the situation continues.

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