CandleFocus FTX News: $6.3 Million USDT Transfer Sparks Controversy Amid SEC’s Latest Stance!
2024-09-06
Author: Content Editor
The defunct cryptocurrency exchange FTX is nearing completion of its plan to repay customers and creditors using stablecoins. The exchange received 6.275 million USDT from OKX, despite the US Securities and Exchange Commission (SEC) expressing possible opposition to distributing funds in stablecoins. The SEC has previously issued differing opinions on stablecoins and has not clearly defined laws for the sector. The adoption of stablecoins has grown rapidly, and the FTX closure may provide hope for customers affected by the recent WazirX hack. The distribution of FTX funds is expected to increase liquidity in the industry.
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