FTX exchanges come into front of Liquid exchange to help them under this measurable situation to continue their services.
Last Thursday, a Japan based Liquid exchange got hacked by hackers. Hackers stole around $100 million funds of crypto assets. So Liquid exchange stopped their services with all deposit & withdrawal facilities.
Now on 26 August, FTX exchange is in action to help Liquid to re-establish their exchange again. FTX gives $120 million to Liquid exchange.
The owner and operator of crypto exchange FTX said that this fund will help the Liquid exchange to get license & necessary approval to run their services in Japan & Singapore. And also the fund will go for the liquidity at platform & boosting the customer support facilities for Liquid’s customers.
Sam Bankman-Fried, CEO & founder of FTX, said that this collaborative Approach with the liquid exchange will bring both the companies team together to work and bring a better service experience for the crypto users in Japan and Singapore.
“This opportunity with Liquid allows both organizations to strengthen and reinforce the belief that regulation in crypto and knowing your customer is an important part of the future of our industry”
It should be noted here that Liquid exchange already announced that their users will not face any kind of loss due to the hack attack last Thursday. We can see the tweet