The LATAM Exchange has 35 percent of its funds tied to the FTX.

The Quantia cryptocurrency exchange, which operates in Argentina and other Latin American countries, has about 35 percent of its assets tied to FTX, a company that recently filed for bankruptcy. This was announced in a press release sent to CryptoNews on Nov. 16.

The announcement comes two days after it was announced that FTX was “a service provider of Quantia” and suspended temporary balance withdrawals. At the same time, in that communication, it had asked its users not to make deposits until the service returned to normal.

So far, withdrawals from the balance remain suspendedbut internal transfers are enabled. On this last point, the company clarified that the trade within the platform is functioning normally, as it has not been affected by the FTX situation. However, no deposits are recommended.

Regarding the duration of the withdrawal suspension, Quantia reported in its latest statement that. suspended all trading with counterparties for the next 7 days. And he noted that this is “to safeguard the remaining assets until the situation in the entire cryptocurrency market has normalized.”

Quantia plans to restore withdrawals “very soon.”

“We are working to recover all obligations owed to Quantia,” said Quantia co-founder Miguel Schweizer about his exposure to FTX. And he recalled that “different alternatives and possible scenarios are being analyzed to restore the withdrawals very soon.”

Meanwhile, Other exchanges have also suspended balance withdrawal for their users.as Block, Liquid, Aax and BitCoke. This comes after it emerged last week that FTX was illiquid and claimed to have no liquidity. bankruptcy. This scenario, combined with the fact that he later reported having a hackled to a wave of outflows in the cryptocurrencieswho has made his prices have come down.