FTX.US to halt crypto trading within days

Sam Bankman-crypto Fried’s empire, which has a US branch called FTX.US, just revealed that it may soon put a trading freeze in place.

Investors looking to close positions and remove their cryptocurrency from the exchange are currently able to do so, according to a new note on the company’s website.

FTX.US is intended to be governed by US laws. In addition, it provides a different selection of cryptocurrency assets and trading options than the troubled exchange FTX.com, which is based in the Bahamas.

Brett Harrison, the previous leader of FTX.US, resigned in September.

According to data from CoinMarketCap, FTX.US was the 8th-largest cryptocurrency exchange in the world by volume as of November 1st.

The bipartisan authors of a Senate bill that would improve oversight of cryptocurrencies such as bitcoin, which are classified as digital commodities in the United States, intend to proceed with the legislation.

The embattled FTX CEO Sam Bankman-Fried was the strongest industry supporter of the legislation, dubbed the Digital Commodities Consumer Protection Act.