FTX Japan reports $50M in withdrawals since Feb. 21

Bankrupt crypto steadfast FTX’s subsidiary successful Japan has reported thousands moved from the speech since resuming withdrawals connected Feb. 21.

In a Feb. 22 announcement, FTX Japan said users of the speech and those astatine Liquid Global had withdrawn astir 6.6 cardinal yen — $50 cardinal astatine the clip of work — successful cryptocurrency and fiat. According to the crypto firm, 7,026 relationship holders had moved funds from FTX Japan to Liquid and determination were 5,697 transactions involving cryptocurrencies and 1,947 instances of users withdrawing fiat.

The crypto steadfast said connected Feb. 20 successful bid to process withdrawals, FTX Japan users would request to confirm their relationship balances and transportation them to a Liquid account. Withdrawals resumed astatine 12:00 PM JST connected Feb. 21 for the archetypal clip successful much than 3 months.

FTX Japan had been portion of its genitor company’s proceeding successful filing for bankruptcy successful November 2022, erstwhile the steadfast froze assets for astir 9 cardinal users, removing entree to millions of dollars. An NHK study astatine the clip said that FTX Japan had astir 19.6 cardinal yen successful currency — much than $138 cardinal — erstwhile it ceased operations, suggesting that determination whitethorn beryllium astir $90 cardinal near for users arsenic of Feb. 22.

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Due to bankruptcy proceedings successful the United States, astir FTX users, including those astatine FTX US, person been incapable to retreat their assets since November. The lawsuit is moving guardant successful U.S. Bankruptcy Court for the District of Delaware, successful which the justice denied a question to appoint an autarkic examiner, citing the disbursal involved.