Per insights from Etherscan on Nov. 10, cryptocurrency exchange FTX – the entity getting caught in the turmoil – seems to have gotten back to normal operations with withdrawals.

Specifically, the exchange’s hot wallet address, which still showed the inactive status following FTX’s announcement on Nov. 8 stating its decision to temporarily crease all user withdrawals, has resumed activities as of 3:50 pm UTC. 

Blockchain insights revealed that numerous kinds of tokens and major amounts of transactions have since left the hot wallet, which has a balance of $469 million at the time of publication. 

Earlier in the day, Sam Bankman-Fried, the current Head of FTX, shared via a Twitter post that FTX possessed approximately $16 billion of overall assets against $10 billion of total liabilities. Nonetheless, the exchange is going through a significant liquidity crunch as its native FTX Token, which FTX uses partly as collateral, experienced a plummet by more than $8 billion in the past week.

This was compounded by more than $5 billion of consumer withdrawal requests on Nov. 6, along with allegations that the exchange was lending out deposits to crypto trading entity Alameda Research. 

Bankman-Fried further claimed that he was putting in efforts to secure new capital to fix the situation following an unsuccessful Binance bailout.

An update on Nov. 10, 6:30 pm UTC reportedly revealed that FTX had entered a $13 million agreement with Tron to enable holders of TRX, BTT, JST, SUN, and HT to swap assets from FTX 1:1 to external wallets. 

An Update on Nov. 10, 7:15 pm UTC further disclosed that the exchange is working on the finalization of a few withdrawals in accordance with Bahamian regulation, where its headquarters currently sit. 

Nonetheless, FTX issued warnings that this is applicable exclusively to Bahamas-sourced funds and that “the amounts withdrawn comprise a small fraction of the assets we currently hold on hand and we are actively working on additional routes to enable withdrawals for the rest of our user base. We are also actively investigating what we can and should do across the world.”