FTX is facing probes by the Bahamas securities regulator and financial investigators over potential misconduct.
The world’s largest payment processor – Visa – has terminated ties with FTX less than a month after introducing a new debit card program.
Deeming the situation with the debt-ridden cryptocurrency exchange “unfortunate,” Visa’s spokesperson told Reuters that the company is “monitoring developments closely.”
The financial services company’s official statement read,
“We have terminated our global agreements with FTX and their U.S. debit card program is being wound down by their issuer.”