CySEC, the Cypriot stock exchange supervisory authority, has extended the suspension of the European branch of FTX for another six months. FTX EU cannot provide services, advertise itself, or accept new clients until at least May 2025. This suspension allows FTX to settle existing customer balances and process refunds.
CySEC suspended FTX Europe for the fourth time, following the collapse of FTX in the US in November 2022. FTX EU joined the FTX portfolio in 2021, but authorities took action amid concerns about the company’s governance and client asset protection. FTX Europe’s official site does not offer trading services but allows clients to view their balances and submit withdrawal requests.
FTX is also dealing with legal issues, including a recent $13.25 million withdrawal of political donations requested by the US Department of Justice. Former FTX executives agreed to the withdrawal. Meanwhile, FTX CEO Sam Bankman-Fried’s trial has been postponed due to his neurodivergent disorders, including autism and ADHD.
