Business

'I'm waiting to get £2,000 back from crypto giant'

November 11, 2022 9:40 am

[Source: BBC]

FTX users have described feeling “hopeful” after withdrawals on the cryptocurrency exchange have appeared to restart.

Thomas Culham, 22, told the BBC that he had lodged a withdrawal request for £2,000.

Bitcoin touched a two-year low after Binance pulled out of a deal to rescue its smaller rival, FTX.

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The exchange, used to buy and sell digital tokens, is still advising customers not to make deposits.

According to Coindesk and reports from users on social media, the troubled platform has allowed some customers to withdraw funds for the first time in days.

Thomas, a 22-year-old from Kingston, has been an FTX customer for more than a year, and describes it as a “hub for crypto”.

He says he was able to lodge a withdrawal request for £2,000 he held on the exchange, which he describes as a “really significant amount of money”.

But he says he has concerns about the volume of requests made by FTX customers and is not sure whether or not they will all be serviced as the company battles on.