Why is CoinFLEX cancelling withdrawals?

Physical futures crypto exchange CoinFLEX is pausing withdrawals citing “extreme market conditions” along with uncertainty around a certain counterparty, its CEO Mark Lamb said in a blog post Thursday. Lamb said the counterparty is not Three Arrows Capital or “any lending firm.”

Is BlockFi pausing customer withdrawals after FTX situation?

BlockFi, a crypto lender, said on Friday morning it was pausing customer withdrawals after the FTX situation. FTX had bailed out BlockFi in June with a $250m loan, a week after having loaned nearly $500m to the struggling crypto broker Voyager Digital. BlockFi said it was “not able to operate business as usual” given the situation.

How long does COINEX take to process a withdrawal?

Coinex processes withdrawals manually and it may take up to 48 hours for the withdrawal to be completed. The minimum withdrawal amount is equivalent to 0.001BTC. The client acknowledges that it is his/her responsibility to provide correct wallet address to the broker. Once the transaction is processed, Coinexx cannot refund an incorrect withdrawal.

Can you withdraw flexusd (flexusd)?

The transformation of value in the digital age. Customers still won't be able to withdraw the platform's native token, though. Physical futures crypto exchange CoinFLEX is now allowing customers to withdraw 10% of their account balances, excluding its flexUSD (FLEXUSD) stablecoin.