ZachXBT: AscendEX currently has almost no liquid assets available to process related withdrawal requests

CoinFeed July 8 news, on-chain detective ZachXBT posted that AscendEX's latest announcement has confirmed it will cease operations, citing the current market environment and EU MiCA regulation as reasons for the shutdown. The announcement admits that all withdrawals will now undergo manual review, 'which may be delayed or not processed at all.' ZachXBT pointed out that verified user claims amount to millions of dollars, but from the status of AscendEX's public hot wallets, there are currently almost no liquid assets available to fulfill related withdrawal requests. AscendEX's official website previously announced that AscendEX has ceased all business operations since July 1, no longer providing account opening, deposit, trading, staking, lending, and event services, only retaining limited account access to process withdrawals, KYC updates, complaints, and export transaction records.