Following the incident that occurred at the FTX exchange, the FTX token (FTT) issuer, Bitkub Online Co., Ltd., published the Risk Warning Announcement for the FTX Token (FTT) and Bitkub Exchange's Operational Guidelines on 11 November 2022. The Company has monitored the situation cautiously and considered security and loss prevention for our customers (customer protection). Therefore, Bitkub Exchange would like to disclose the facts and situations regarding the delisting decision as follows:
- The developer team of FTT has been officially contacted. However, there has been no response regarding the solution yet.
- The FTX exchange has requested as per Chapter 11 of the United States Law, and the CEO of the FTX company has resigned from his role. (reference: https://twitter.com/FTX_Official/status/1591071832823959552)
- Upon checking, the FTX exchange ceased its services on 12 November 2022 at 10:28 AM (UTC+7) without an official announcement.
- After that, the FTX exchange suspended the withdrawal services temporarily without further announcement.
- The FTX token has the property to be used as a discount fee and for other activities on the FTX business and affiliates. From the above information, it might affect the utility of the said token as described in the whitepaper which considers as one of the properties in consideration in digital asset trading services of the company’s digital asset exchange.
Due to the facts listed above, the Company has considered delisting the FTX token as the asset is no longer qualified as per Bitkub Exchange’s listing policy as scheduled below:
Date and Time
12 November 2022 at 01:08 PM (GMT+7)
Permanently cease to support FTT deposit
12 November 2022 at 06:00 PM (GMT+7)
Post DE sign (Delist)* with the FTT symbol
14 November 2022 at 06:00 AM (GMT+7)
Permanently cease to support FTT trading
12 February 2023 at 06:00 AM (GMT+7)*
*Announcement Amendment: Extended to 20 April 2023 at 11:00 AM (GMT+7) as per this announcement
Permanently cease to support FTT withdrawal
* DE (Delist) represents a cease of digital asset trading to delist the asset from the exchange within a given period. (Learn more about Warning Signs)
- Please do your research to understand the risks before trading FTT and exercise caution when investing. Due to price volatility, the Company highly recommends you study the FTT whitepaper, and closely follow the news from the official channel of the token issuer at https://twitter.com/FTX_Official.
- Investments in digital assets contain high risks. Please be advised to research properly and thoroughly, and make a careful decision before taking any action, especially during the volatility of the digital asset market. Please note that the Company is not responsible for any loss or damages, or profits and losses from investing in digital assets related to this announcement and/or from the use of the information contained in this notice.
- The Company reserves the right in its sole discretion to amend or change these announcement details, and we will further notify you if there is any change.
We apologize for any inconvenience caused and thank you for your continual trust in the Company.
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