Breaking: Are US Bank Freezing FTX Linked Bank Accounts?

Ashish Kumar
December 16, 2022
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FTX News: Since the Bahamian authority arrested Sam Bankman-Fried (SBF), former CEO of the collapsed Crypto exchange FTX, regulators and other institutions are gearing up to pull more charges on him. However, in this bid, some users have reported facing complications in accessing their Bank accounts linked with the collapsed exchange.

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FTX linked accounts on target?

Cole Petersen, Head of Operations at Elixir Protocol raised a major issue related to accessing his bank account. He wrote that his Bank just closed and emptied the accounts due to previous FTX wire deposits.

He added that a check is coming however, no warning was given and he is not being able to access his money. At the time of Bank login, all of his accounts showed a $0.00 balance. Cole highlighted that there is a possibility that there is a good chance that users’ bank accounts can be affected if they got linked with FTX earlier.

However, other Twitter user seconded Cole’s claim. He wrote that this happened to him also for accessing crypto and forex platforms. Meanwhile, this issue wasn’t related to the FTX. He added that he logged in and found out that his accounts were gone.

Further, Cole mentioned that this issue is being faced on accounts linked with FTX US.

Another affected user wrote that they experienced such kind of issue the other day. However, its accounts were linked to JPMorgan Chase. It mentioned that one of its accounts lands in the category of private client with a trading history of a decade.

SBF has reportedly filed a new bail request in the Bahamas Supreme Court as his previous submission was rejected.

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Ashish believes in Decentralisation and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at [email protected]
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.