Visa has actually supposedly ended its worldwide agreements with collapsed cryptocurrency exchange FTX and its U.S. arm, FTX United States. The payments giant included that FTX’s “U.S. debit card program is being wound down by their issuer.”
Visa Ends Agreements With FTX
Visa Inc., the world’s leading payments processor, supposedly stated Sunday that it has actually ended worldwide agreements with bankrupt crypto exchange FTX. A Visa representative informed Reuters:
We have actually ended our worldwide agreements with FTX and their U.S. debit card program is being unwinded by their provider.
“The situation with FTX is unfortunate and we are monitoring developments closely,” the agent included.
Visa and the business behind FTX.com and FTX United States revealed “a long-term global partnership” in early October. “As a part of the alliance, FTX will begin by offering FTX-branded Visa debit cards to FTX customers internationally,” the statement detailed, including that while the debit cards are presently just offered in the U.S., they “are now being rolled out globally in over 40 additional countries.”
FTX declared Chapter 11 personal bankruptcy on Friday and Sam Bankman-Fried stepped down as the CEO after Binance chose not to continue with the acquisition of the company.
The exchange is supposedly being examined by the U.S. Department of Justice (DOJ), the Securities and Exchange Commission (SEC), and the Commodity Futures Trading Commission (CFTC) for apparently mishandling customer funds.
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