Shulou(Shulou.com)11/24 Report--

CTOnews.com, November 14 (Xinhua)-- after the cryptocurrency exchange FTX filed for bankruptcy on Friday, Visa announced today that it had severed its business relationship with FTX. A spokesman for Visa told Reuters: "We have terminated our global agreement with FTX and terminated our US debit card program in cooperation with FTX. We are closely watching the follow-up to the FTX incident."

CTOnews.com learned that the cryptocurrency debit card business was launched in January and has been launched in more than 40 countries and regions around the world. Debit cards are associated with users' FTX accounts and allow users to pay for goods and services using cryptocurrency balances in FTX wallets at more than 80 million merchant locations around the world that accept Visa. There is no administrative or handling charge for these transactions.

FTX is also investigating "anomalies" on its platform after mysterious outflows from the exchange on Friday night. Before the bankruptcy, FTX was the second largest cryptocurrency exchange in the world, which had a great negative impact on many exchanges, including BlockFi, and could even cause them to fail.

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