Crypto exchange FTX Japan to resume withdrawals on Feb. 21

According to a press release connected Feb. 20, FTX Japan, the Japanese subsidiary of troubled cryptocurrency speech FTX, announced that the withdrawal of users' fiat currency and crypto assets would commence via the Liquid Japan web level astatine 12:00 p.m. connected Feb. 21. 

In Nov. 2022, FTX Japan halted operations aft its genitor firm, FTX, filed for bankruptcy on with its 134 subsidiaries, freezing the assets of an estimated 9 cardinal customers and billions of dollars locked successful ineligible proceedings.

Per FTX Japan, customers who person assets successful their accounts would request to corroborate their equilibrium and transportation them to their Liquid Japan account. Liquid Japan is simply a licensed Japanese crypto-asset speech that was acquired by FTX successful April 2022. FTX Japan customers who bash not person a Liquid Japan relationship are required to unfastened 1 earlier receiving their assets.

"Please enactment that owed to the ample fig of requests from customers, it whitethorn instrumentality immoderate clip for the withdrawal process to beryllium completed. We volition denote the resumption of different FTX Japan services arsenic soon arsenic possible."

According to reports, FTX Japan had astir 19.6 cardinal yen successful currency worthy much than $138 cardinal erstwhile it ceased operations successful November 2022. FTX Japan launched successful June 2022 and by Japanese instrumentality was required to segregate lawsuit funds from its assets. On Nov. 10, 2022, the Financial Services Agency of Japan announced ordered FTX to suspend concern operations specified arsenic accepting caller deposits and to comply with a concern betterment order. Due to bankruptcy proceedings, the immense bulk of FTX customers, including users of FTX.us, are inactive incapable to retreat their assets.