Mariblock
The crypto exchange has appointed a new CEO as it scrambles to repay creditors, customers and investors. The group of companies will continue to operate normally and pay creditors over time according to Chapter 11 of the United States Bankruptcy code.
Embattled cryptocurrency exchange FTX has filed for Chapter 11 bankruptcy in the United States. This comes days after a significant spike in withdrawal requests exposed the company as insolvent.
The bankruptcy filing shows that about 130 other business entities tied to FTX are seeking protection from creditors as well.
CEO Sam Bankman-Fried has also resigned.
Parents maintain full control of these accounts designed to teach crypto and financial literacy to children aged 17 and under.
Users can track crypto and fiat balances on one platform and seamlessly move funds between their Luno wallets and fiat accounts.
Olugbenga Agboola said rising demand from clients and suppliers already using stablecoins pushed Flutterwave to build payment flows that match how people are transacting today.
Dubbed the ZAR Supercoin, the stablecoin designed and developed by New York-listed Super Group, is backed by cash reserves in Absa bank.
Plus: 🇿🇦 USD stablecoins can undermine African monetary sovereignty — SARB Governor
Yellow Card told Mariblock that the decision was driven by strong, growing demand for stablecoin-fiat payment services.
While the full rollout is scheduled for 2026, a pilot program of the product feature is expected to run its course before the end of the year.
The move combines modern digital asset technology with the security and trust of a tradfi institution to provide digital asset custody.
The exchange asked users to withdraw their funds before November 1 when it will cease all operations
