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id: 544, Created by Stan Vick Chase, Scout
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ANY INVESTOR who was damaged by Liquid's Actions can JOIN CASE!
On November 20, 2022, Liquid crypto exchange has suspended all trading operations on its platform in line with instructions from FTX Trading.
As stated by the Crypto Exchange on its webpage: "we have also been instructed by S&C, who act for FTX Trading, to pause all forms of trading on our exchange because of the operation of the Chapter 11 process in the Delaware Courts."
Earlier on November 15, 2022, Liquid suspended all withdrawals on its platform, citing compliance with the requirements of voluntary Chapter 11 proceedings.
FTXTrading acquired Liquid Group in early 2022.
- Liquid Group and all of its operating subsidiaries including Quoine Corporation (Cryptocurrency Exchange Business Kanto Finance Bureau Director No. 00002) and Quoine Pte. in Singapore were acquired by FTX Trading Ltd.
- Quoine is a wholly-owned subsidiary of Liquid and a licensed Japanese crypto-asset exchange and Type I Financial Instruments Business licensee.
- FTX has also entered into an agreement with Liquid to provide its existing Japanese users with services in compliance with Japanese laws and transfer its existing Japanese users to Quoine, with effect from 30 March 2022.
Taking into account that Liquid is a separate legal entity and in the jurisdiction of Japan, and not the United States, where the bankruptcy procedure is taking place, Investors and Clients of Liquid have reason to suspect that the exchange did not have the right to block their assets and stop the execution of their contractual obligations in accordance with the Terms and Conditions.
Breach of Fiduciary duty,
Shock Event Date
20 November 2022