![\"Visa](\"https:\/\/www.cryptocabaret.com\/wp-content\/uploads\/2022\/11\/visa-ftx-card-768x432.jpg\")
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Visa has reportedly terminated its global agreements with collapsed cryptocurrency exchange FTX and its U.S. arm, FTX US. The payments giant added that FTX\u2019s \u201cU.S. debit card program is being wound down by their issuer.\u201d<\/strong><\/p>\n Visa Inc., the world\u2019s leading payments processor, reportedly said Sunday that it has ended global agreements with bankrupt crypto exchange FTX. A Visa spokesperson told Reuters:<\/p>\n We have terminated our global agreements with FTX and their U.S. debit card program is being wound down by their issuer.<\/p>\n<\/blockquote>\n \u201cThe situation with FTX is unfortunate and we are monitoring developments closely,\u201d the representative added.<\/p>\n Visa and the companies behind FTX.com and FTX US announced \u201ca long-term global partnership\u201d in early October. \u201cAs a part of the alliance, FTX will begin by offering FTX-branded Visa debit cards to FTX customers internationally,\u201d the announcement detailed, adding that while the debit cards are currently only available in the U.S., they \u201care now being rolled out globally in over 40 additional countries.\u201d<\/p>\n FTX filed for Chapter 11 bankruptcy<\/a> on Friday and Sam Bankman-Fried stepped down as the CEO after Binance decided not to proceed<\/a> with the acquisition of the firm.<\/p>\n The exchange is reportedly being investigated<\/a> by the U.S. Department of Justice (DOJ), the Securities and Exchange Commission (SEC), and the Commodity Futures Trading Commission (CFTC) for allegedly mishandling client funds.<\/p>\nVisa Ends Agreements With FTX<\/h2>\n
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