September 27, 2023

The Japanese division of the crypto exchange FTX resumes the withdrawal of funds

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The Japanese division of the crypto exchange FTX resumes the withdrawal of funds

Clients of the Japanese division of the bankruptFTX crypto exchanges will be able to withdraw their funds starting Tuesday, February 21st. According to a statement on the platform’s website, the withdrawal of crypto assets and fiat currencies is available through the Liquid Japan platform.

To withdraw funds from FTX Japan accounts, customers need to
confirm the balance of their assets, as well as transfer them to an account with Liquid Japan, which is part of FTX Japan. If customers do not have an account with Liquid Japan, they must open one.

In the instructions sent to customers, the exchangewarned that the withdrawal of funds may take some time due to the large influx of requests. The company promised to announce the resumption of other FTX Japan services as soon as possible.

FTX Japan first announced plans for a comebackfunds to users in December. The withdrawal of assets of local clients was suspended on November 8, after the collapse of the parent crypto exchange FTX. In early February, the Japanese division began beta testing the refund process for its 35,000 users.

The exchange continues to assert that the assets of Japanesecustomers are not part of the property of FTX Japan and are not related to the bankruptcy proceedings of the group of companies in the United States. The Japanese division team notified US lawyers of this.

FTX owned over 130 divisions andaffiliated companies around the world. In January, a US court approved the sale of four companies, including FTX Japan. At the beginning of the year, information appeared that the Monex broker would buy the Japanese stock exchange.