CySEC requested FTX’s European arm suspend operations prior to bankruptcy: Report

The downward spiral continues as FTX Europe, one of 130 companies in FTX Group, joins the bankruptcy proceedings in the United States.

The Securities and Exchange Commission of Cyprus, or CySEC, reportedly issued a statement amid FTX filing for Chapter 11 bankruptcy in the United States requesting the exchange halt operations for its Europe arm.

it had asked FTX Europe to “suspend its operations and to proceed immediately with a number of actions for the protection of the investors” on Nov. 9. It’s unclear why the financial regulator chose to reiterate its call to the crypto exchange, given that FTX Europe

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