Crypto exchange FTX saw about $6 billion in withdrawals in the 72 hours leading up to Tuesday morning, in a message to employees from FTX CEO Sam Bankman-Fried.
The boss of arch-rival Binance said on Tuesday it had signed a non-binding agreement to buy FTX com, the non-U.S. arm of FTX, to help deal with FTX’s “liquidity crunch.”
“On an average day, we have net inflows/outflows of tens of millions of dollars. Before this weekend a few days ago, things were mostly average,” Bankman-Fried wrote in a message to employees Tuesday morning.
“In the past 72 hours, we have withdrawn approximately $600 million in net withdrawals from FTX.”
Withdrawals from FTX com are “effectively suspended,” he wrote, adding that this will be resolved “in the near future.”
FTX did not immediately respond to a request for comment.
