FTX is now trying to raise capital to save the troubled exchange after it experienced a liquidity crunch and had seen more than $5 billion in withdrawals for the past few days. According to Sam Bankman-Fried, every penny of the raised capital will go directly to the users.
MoonXBT, the leading crypto social trading exchange regulated by the Securities and Exchange Regulator of Cambodia (SERC), offers to help FTX with emergency liquidity to keep one of the largest crypto exchanges alive.
According to MoonXBT, as a crypto exchange that always puts the user’s interest first, it understands the urgency to help the users cope with the difficult time, especially when there’s a black swan. MoonXBT is willing to give a handout to FTX users.
In the meantime, MoonXBT deems FTX as an excellent crypto exchange possessing assets and projects of good quality. MoonXBT is willing to discuss with FTX about further cooperation.
Moreover, MoonXBT takes the health of the industry and ecosystem into great consideration. “ What FTX is going through right now does not only affect it but also affects the entire industry at large. We should deal with the liquidity crunch together in order to prevent systematic risk,” says Jack, the CEO of MoonXBT.
Having been founded less than two years ago, MoonXBT has become one of the fastest-growing crypto exchanges in the industry. It now has more than two hundred thousand users in countries and areas such as Vietnam, Indonesia, Latin America, Turkey, and Russia. It is one of the top three derivative exchanges in Vietnam.
MoonXBT is also a SERC-regulated crypto exchange maintaining a healthy balance sheet with abundant reserves which meet the requirements of SERC. “In no time, we will halt withdrawals because we are confident about our cash flow, and we have the liquidity to spare for helping others,” says Jack.
MoonXBT is also known for its great liquidity. One of its future flagship products is called a liquid contract. All the contract orders can be filled in milliseconds with the strong liquidity support at MoonXBT.
Another cornerstone of MoonXBT is its social trading feature, which helped the platform grow a solid community led by industry influencers. The community also contributes greatly to the stability of the platform’s liquidity.
MoonXBT now is open to help both FTX and users from other platforms who are going through hardship from a liquidity crunch.
For more information, please visit https://www.moonxbt.com/
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Compiled by Metacrunch. Metacrunch is a news complier and aggregator platform which aims to spread awareness and updates on Metaverse, Web 3.0 Technology, Blockchain, Cryptocurrency, NFTs, Airdrops and many more.
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