FTX Enables Withdrawal of Certain Tron Tokens

  • FTX has allowed withdrawals for TRX, BTT, JST, SUN, and HT after reaching an agreement with Tron, which provided $13 million worth of assets to facilitate such swaps.
  • Additional funding for such swaps will be provided on a weekly basis at 14:00 UTC, with the amount injected based on factors such as withdrawal demand.


Troubled crypto exchange FTX has reached an agreement with Tron to enable withdrawals for holders of TRX, BTT, JST, SUN, and HT, the company said via Twitter on 10 November.

According to the announcement, the deal provides a credit that will allow holders of these tokens to swap assets from FTX 1:1 to external wallets starting 18:30 UTC today. The Tron team initially deployed $13 million worth of assets to facilitate such swaps, but revealed that it will provide additional funding on a weekly basis. FTX CEO Sam Bankman-Fried (SBF) tweeted:

While exact figures for future capital injections were not given, they will be determined on a weekly basis by the team — based on the a number of factors, such as withdrawal demand — and deployed at 14:00 UTC. As part of the deal, FTX has disabled Tron deposits from all users. FTX wrote in its announcement:

“By providing a set schedule of the amount of tokens to be introduced into the market and the corresponding time, our goal is to provide more clarity to the market allowing users to make better informed decisions.”

Related Coverage
OKX Launches Proof-of-Reserves Page and Self-Audit Tool
  • OKX has become one of the first crypto exchanges to release a Proof-of-Reserves page, giving users a greater visibility in its reserves and liabilities.
  • Customers can also verify that their assets are backed 1:1 on the platform, and that they have become a “leaf” in the Merkle tree data structure.
November 24, 2022, 10:54 AM


FTX Reportedly Purchased $121M Worth of Properties in the Bahamas
  • A unit of the exchange, FTX Property Holdings, bought 15 properties worth above $100 million in 2021 and 2022, which included seven luxury condos.
  • Sam Bankman-Fried, his parents, and top executives of now bankrupt FTX also made several purchases, including a $16.4 million “vacation home”.
FTX Owes Over $3B to Top 50 Creditors, Liquid Pauses All Trading
  • New bankruptcy court filings revealed that FTX owed its top 50 creditors around $3 billion, with sums ranging from $21 million and $226 million.
  • Japanese crypto exchange Liquid, which was acquired by FTX in May, suspended all trading on its platform only five days after pausing crypto and fiat withdrawals.