Brief Look at Liquid
Liquid was founded in 2014 as a project by Quoine, created through the merger of Quoinex and Qryptos, with headquarters in Japan and Singapore. The exchange offered spot and margin trading along with leveraged contracts.
In 2022, Liquid was acquired by FTX Trading Ltd and integrated into its operations. Following the acquisition, the exchange gradually stopped functioning as an independent platform. The official Liquid website now states that client accounts are managed through FTX, confirming that Liquid no longer operates in its previous form.
However, FTX, once the world’s second-largest cryptocurrency exchange after Binance, filed for bankruptcy in November 2022 following large-scale fraud and misuse of client funds.
According to the official bankruptcy portal of FTX, managed by the court-appointed administrator Kroll, Liquid’s subsidiaries were included in the FTX restructuring case. On November 13, 2023, a court order was issued to close proceedings involving Liquid Financial USA, Inc., LiquidEX LLC, and other related entities. As a result, Liquid’s subsidiaries have been legally dissolved within the FTX bankruptcy process. The case also allows Liquid users to submit claims through the unified FTX creditors portal.
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