FTX Exchange Ethereum Trading Continues During Merge

The Ethereum Merge will take place on September 15. It is the largest update to the network in its history. Every exchange handles the situation differently. Today, crypto exchange FTX announced that ethereum trading will continue as normal on its trading platform.

FTX Exchange Doesn’t Pause ETH Trading During Merge

In the update inform FTX that it will not pause trading ETH on the exchange. Some other exchanges will choose to shut everything down during the Merge. Trading ETH on FTX can continue as this trades take place outside the blockchain.

The fact that during the Merge, the Ethereum blockchain merges with the Beacon Chain after which Ethereum officially becomes a proof of stake (PoS) network will therefore have no influence on this. However, whether users with an FTX account can continue to deposit and withdraw ethereum with the exchange is not clear.

No FTX account yet? Create an FTX account and start trading crypto right away.

Ethereum ‘wrappers’ paused, FTX announces

However, deposits and withdrawals of so-called ethereum willwrappers’ be temporarily paused. Wrapped ethereum is used to allow ETH to run on other blockchains.

In this case it concerns ethereum wrappers on Arbitrum One, the Wormhole bridge on Solana (SOL) and wrapped ethereum on the BNB Smart Chain (BSC). Arbitrum One ethereum deposits and withdrawals will be paused on September 7 at 2:00 AM UK time. The last two will be paused on the day the Merge will take place, on September 15th at 2am.

Once the Merge is complete and the network is stable, deposits and withdrawals will resume. This is especially important for traders who use their ethereum within decentralized finance (DeFi) applications on the various blockchains.

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If you have any questions about the Ethereum Merge or the exchange itself, take a look in the Dutch FTX Telegram channel.

Recently, the crypto news reported that Reddit is partnering with FTX to launch crypto tokens on the social media platform. Read here how you earn it.

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