AscendEX faces withdrawal complaints as ZachXBT flags potential liquidity issues

Multiple users report delayed withdrawals from AscendEX as blockchain investigator ZachXBT says the exchange's wallets lack large-cap reserves, raising liquidity concerns.

• Users report withdrawals stuck for weeks with unanswered customer support inquiries on AscendEX.
• ZachXBT flagged that AscendEX wallets hold only $20.2 million, mostly in small-cap tokens like UNITE and REUR rather than major cryptocurrencies.
• The exchange's largest holding is $10 million in UNITE tokens, with minimal ETH, USDT or SOL reserves.
• The situation echoes warning signs seen before the FTX collapse, where withdrawal delays preceded insolvency.

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