<p><span data-preserver-spaces="true">Crypto exchange FTX, which is currently fighting a battle with rival Binance, seems to have stopped processing clients' requests for withdrawals, according to on-chain data.</span></p> <p><span data-preserver-spaces="true">The last outgoing transaction from FTX on the Ethereum blockchain took place at 6:37 a.m. ET, more than two hours ago, <a href="https://etherscan.io/tokentxns?a=0x2faf487a4414fe77e2327f0bf4ae2a264a776ad2&amp;p=4">data from Etherscan show</a>. It's a similar story on the Tron and <a href="https://solscan.io/account/6ZRCB7AAqGre6c72PRz3MHLC73VMYvJ8bi9KHf1HFpNk#splTransfers">Solana</a> blockchains as well, on-chain data show. </span></p> <p><span data-preserver-spaces="true">An exchange spokesperson did not immediately respond to The Block's request for comment.</span></p> <p>“It appears that FTX has stopped processing on-chain withdrawals from at least their main identified wallets on Ethereum, Solana and Tron," said Steven Zheng, a research analyst at The Block. "This is weird as there presumably are still people queueing up waiting for their withdrawals."</p> <p><span data-preserver-spaces="true">FTX has been facing client withdrawals after </span><span data-preserver-spaces="true">Binance CEO Changpeng Zhao said that the exchange would begin </span><a class="editor-rtfLink" href="https://www.theblock.co/post/183570/binance-to-sell-ftx-token-holdings-alameda-ceo-says-leaked-balance-sheet-is-incomplete" target="_blank" rel="noopener"><span data-preserver-spaces="true">selling</span></a><span data-preserver-spaces="true"> off its holdings of FTT, the exchange's token. Zhao cited </span><span data-preserver-spaces="true">"recent revelations" for the decision — seemingly in reference to an earlier report from CoinDesk that revealed details of sister firm Alameda Research's balance sheet. </span></p> <p><span data-preserver-spaces="true">After Zhao's tweets, FTX CEO Sam Bankman-Fried tried to calm the market. He said yesterday that the exchange is “fine,” and </span><a class="editor-rtfLink" href="https://www.theblock.co/post/183680/ftx-fine-bankman-fried-binance-work-together" target="_blank" rel="noopener"><span data-preserver-spaces="true">called</span></a><span data-preserver-spaces="true"> for FTX and Binance to work together for the good of the industry. Alameda CEO Caroline Ellison had offered to buy Binance’s FTT holdings at $22 per token.</span></p> <p><span data-preserver-spaces="true">FTT is currently trading at around $17.50, according to data from <a href="https://www.coingecko.com/en/coins/ftx-token">CoinGecko</a>. </span></p><br /><span class="copyright"><p>Disclaimer: The former CEO and majority shareholder of The Block has disclosed a series of loans from former FTX and Alameda founder Sam Bankman-Fried.</p> <p>© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.</p> </span>