FTX Criticises UCC’s Asset Control Pursuit!


The post FTX Criticises UCC’s Asset Control Pursuit! appeared first on Coinpedia Fintech News

FTX has strongly criticized the Universal Clearing Corporation (UCC) for its asset control pursuits. The UCC had recommended that debtors allocate nearly $2.6 billion of their cash reserves into short-term Treasurys. In a statement, FTX argued that this move would do more harm than good and would jeopardize the future of the cryptocurrency sector. FTX also stated that such a decision may lead to a lack of trust in the cryptocurrency market, which could have negative long-term effects. The cryptocurrency exchange urged the UCC to reevaluate its plan and consider other options to ensure the stability of the industry.