FTX Japan, the Japanese unit of bankrupt cryptocurrency exchange FTX, may be preparing to reopen after CEO John J. Ray III spoke with officials in Japan regarding the status of the exchange. The decision to possibly reopen comes after an auction to sell the exchange was extended to April 26. The court filing reveals that relevant Japanese officials have been working on guidance concerning the reopening of the exchange, and Ray has made recommendations to Japanese employees. FTX Japan has already allowed customer withdrawals, and Japan has taken steps to regulate the crypto market, including warnings to crypto exchanges regarding registration and the development of a yen stablecoin.

Dapper Labs Said To Lay Off 20% More of Its Full-Time Employees; FTX Founder Sam Bankman-Fried Hit With Four New Criminal Charges; FTX Japan Reports $50M in Withdrawals Since Feb. 21

Bankrupt crypto firm FTX’s subsidiary in Japan has reported thousands moved from the exchange since resuming withdrawals on Feb. 21.

The Japanese branch of the infamous FTX exchange announced that it has resolved problems with user withdrawals of Bitcoin (BTC) and XRP. The exchange had earlier reported security and risk control issues for users making withdrawals, promising to resume procedures once all security checks had been carried out.

The Japanese subsidiary of the embattled exchange, FTX, has finally lifted restrictions on customer withdrawals three months after it was asked by the Japanese authorities to stop. 

Bosch and Fetch.ai have jointly unveiled a new foundation focused on fueling industrial adoption of software agents, AI, and Web3 technology.

The FTX unit in Japan, a subsidiary of the failed cryptocurrency exchange of Sam Bankman-Fried, announced its decision to resume withdrawals this week to make the 1st of the FTX group to return funds to customers. 

Customers of FTX Japan will be able to withdraw deposits of crypto and fiat currency tomorrow, the Japanese subsidiary of bankrupt crypto exchange FTX said Monday.

According to a notice that was sent by the firm on Monday, FTX Japan will resume providing withdrawal services for fiat and cryptocurrency assets as of 12:00 p.m. on February 21. The announcement fulfills a commitment that the exchange made back in December while the assets were separated from the larger FTX exchange, under Japanese law.

Bankrupt cryptocurrency exchange FTX’s subsidiary in Japan, FTX Japan, reportedly plans to resume withdrawals for affected users as early as February.

Wallets linked to now-bankrupt Alameda Research became active again on Feb. 7, transferring out millions worth of FTX exchange’s native token, FTX Token (FTT). The Alameda wallet activity post FTX bankruptcy filing has been a big concern for the crypto community, with many questioning the merits of the law enforcement agencies and how these wallets are being accessed.

Bidders have been given more time to register their interest in the crypto exchange FTX’s Japanese arm, FTX Japan.

Monex Group, a financial services company based in Tokyo, has shown an interest in buying up the Japanese subsidiary of Sam Bankman-Fried’s defunct FTX crypto platform, according to Oki Matsumoto, the CEO of Monex.

Investment advisory firm Monex Group expressed interest in buying FTX Japan, the Japanese subsidiary of bankrupt exchange FTX, Bloomberg News reported Jan. 16.

In an interview with mainstream media outlet Bloomberg, Monex CEO Oki Matsumoto said that they are interested and expressed that it will be a "very good thing" for them if there will be less competition within the local market.

Around 117 parties have expressed an interest in buying units of FTX, a legal filing posted Sunday said, as a deadline for initial bids approaches.

FTX Japan customers will be able to withdraw their funds as of mid-February , the subsidiary of FTX Trading said in a blog post on Thursday, making them some of the first customers of the collapsed crypto exchange to get their money back.

Japanese crypto exchange Liquid, which now-collapsed FTX owns, announced plans to return customer assets that will begin in 2023. The process of asset return will be opened for the accounts holders with FTX Japan and Liquid Japan.