Canadian Bitcoin Exchange Bitvo Ends Deal with FTX
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Canadian cryptocurrency exchange Bitvo has terminated its previously announced acquisition agreement with FTX Canada Inc. and FTX Trading Ltd., the company said in a blog post.

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The Calgary-based trading platform noted it has no material exposure to FTX or any of its affiliated entities. The exchange said:

"At Bitvo, we believe that holding ourselves to the highest standards of security and compliance will allow us to build a successful business for the long term and have never sacrificed that for short term gains."

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The move comes shortly after FTX filed for Chapter 11 bankruptcy protection in the US as it faced massive liquidity issues. According to the bankruptcy proceedings, the exchange had around $9 billion in liabilities while only having a slightly over $1 billion in liquid assets.

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