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FTX Japan Says To Allow Customer Withdrawals From Mid-February
The unit laid down a timeline for the withdrawal process, in a move that would be a rare example of investors getting money back from the failed exchange. The proposal in Japan stands in contrast to other countries where the path to recovery of customer funds is largely unclear.
Ankita K.
8:18 30th Dec, 2022

The Japanese subsidiary of Sam Bankman-Fried’s bankrupt cryptocurrency exchange FTX will start returning customer assets from the middle of February, the entity said in a statement on its website.

The fallen crypto exchange owes its 50 biggest unsecured creditors globally a total of $3.1 billion.

FTX Japan said it is developing systems to enable its customers to withdraw their assets via Liquid Japan’s website, a platform it bought this year to boost its local presence. The statement laid down a three-step process to return the assets to customers, which includes opening a Liquid Japan account mid-January, followed by balance checks and the ability to withdraw in mid-February.

FTX Japan K.K. holds about $94.5 million in crypto assets and $46 million in fiat currency in designated client accounts.


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