Cointime

Download App
iOS & Android

FTX Japan Shares Roadmap for Returning Customers’ Assets

Validated Media

The exchange said on Thursday that it is developing systems that will make it possible for users’ assets to be returned through Liquid Japan’s platform in mid-February. Liquid is a Japanese licensed crypto exchange acquired by FTX earlier this year.

FTX to Return Customers’ Assets Through Liquid Exchange

The Japanese exchange noted that eligible customers would be sent an email with a link to open a Liquid Japan account. The company added that this would not apply to users with a Liquid Japan account.

After the registration, eligible users can check balances and transfer their assets from FTX Japan accounts to Liquid Japan accounts. Afterwards, the team will enable Liquid withdrawals so users can withdraw their funds through their Liquid accounts.

FTX Japan also informed customers that they might need to go through Liquid’s verification procedure during registration, adding that users will be notified if the procedure is required.

The company had previously suspended customers’ withdrawals from its platform for an unspecified period following FTX’s bankruptcy filing. The firm was also part of the 130+ FTX subsidiaries listed in Chapter 11 bankruptcy proceedings in November.

An unnamed executive said in November that customers’ assets have not been returned because FTX Japan was using the same payment system as its parent company, which is currently suspended.

FTX Poised for Sale

Meanwhile, FTX Japan is expected to be sold off in its parent company’s bankruptcy proceedings due to its strong balance sheet.

Per reports, FTX launched a strategic review of global assets following its bankruptcy proceedings and saw its Japanese unit as a prized part of the group. FTX Japan reportedly has approximately 19.6 billion yen ($138.2 million) in cash and deposits as of November 10.

Furthermore, FTX is reportedly looking to sell off other subsidiaries, including Embed Technologies, LedgerX LLC, and FTX Europe.

(By William A. Frederick)

Comments

All Comments

Recommended for you

  • Bitcoin mining company Phoenix Group released its Q1 financial report: net profit of US$66.2 million, a year-on-year increase of 166%

    Phoenix Group, a listed mining company and blockchain technology provider for Bitcoin, released its Q1 financial report, with the following main points:

  • Pudgy Penguins and Lotte strategically cooperate to expand into the Korean market, and the floor price rose by 3.1% on the 7th

    The NFT series "Pudgy Penguins" has recently announced a strategic partnership with South Korean retail and entertainment giant Lotte Group on the X platform to expand its market in South Korea and surrounding areas. More information will be announced in the future. According to CoinGecko data, the floor price of Pudgy Penguins is currently 11.8 ETH, with a 7-day increase of 3.1%.

  • CryptoPunks Launches “Super Punk World” Digital Avatar Series

    Blue-chip NFT project CryptoPunks announced the launch of "Super Punk World" on X platform, which is the project's first release of 500 digital avatars inspired by the iconic CryptoPunks features and combined with Super Cool World attributes. It is reported that the series may launch auctions in the future, and more details about the collection and auction of this series will be announced soon.

  • Core Foundation launches $5 million innovation fund

    CoreDAO announced in a post on X platform that the Core Foundation has launched a $5 million innovation fund. The fund is currently mainly targeting the Indian market and has established strategic partnerships with the Indian Institute of Technology Bombay and some top venture capital companies to support the development of innovative blockchain projects in the country. At present, the fund has opened project funding applications.

  • Drift Foundation: The governance mechanism is gradually being improved, and DRIFT is one of the components

    The Drift Foundation stated on the X platform that the DRIFT token is a component of governance and a key element in empowering the community to shape the future. The governance mechanism is gradually improving, and more information will be announced soon.

  • U.S. Department of Justice: Two Chinese nationals arrested for allegedly defrauding at least $73 million through cryptocurrency investments

    According to the official website of the United States Department of Justice, a complaint from the central region of California was made public yesterday, accusing two Chinese nationals of playing a major role in a money laundering scheme involving cryptocurrency investment fraud.Daren Li, 41 years old, is a dual citizen of China and St. Kitts and Nevis, and is also a resident of China, Cambodia, and the United Arab Emirates. He was arrested on April 12th at Hartsfield-Jackson Atlanta International Airport and later transferred to the central region of California. Yicheng Zhang, 38 years old, is a Chinese national currently residing in Temple City, California. He was arrested yesterday in Los Angeles. Today, they are accused of leading a money laundering scheme related to an international cryptocurrency investment scam, involving at least $73 million. These arrests were made possible thanks to the assistance of our international and US partners, demonstrating the Department of Justice's commitment to continuing to combat the entire cybercrime ecosystem and prevent fraud in various financial markets.

  • Hong Kong expands digital yuan pilot to allow e-CNY wallets for cross-border payments

    The Hong Kong Monetary Authority and the People's Bank of China have expanded their cross-border digital yuan pilot to allow Hong Kong residents to use e-CNY wallets for cross-boundary payments. The digital yuan is China's central bank digital currency, which has been piloted for several years and is among the most advanced of its kind globally. Users can set up wallets using just a phone number and top them up in real-time through 17 Hong Kong retail banks. The HKMA plans to work with the Digital Currency Institute to explore enhancing interoperability in payments and corporate use cases, such as cross-border trade settlement.

  • WSJ: GPU cloud computing platform CoreWeave raises $7.5 billion to promote artificial intelligence computing

    CoreWeave, an artificial intelligence cloud computing startup supported by Nvidia, has raised $7.5 billion from investors including BNY Mellon, KKR, and BlackRock. This financing is one of the largest private debt financings ever. Just two weeks ago, CoreWeave completed a $1.1 billion equity financing round with a valuation of $19 billion. As of the end of last year, the company had 14 data centers and plans to double that number to 28 by the end of this year.

  • In the past 24 hours, the entire network has liquidated $139 million, and long orders have liquidated $83.5374 million

    According to Coinglass data, there were liquidations totaling $139 million in the past 24 hours, with a total of 56,471 people being liquidated.Of these, long positions were liquidated for $83.5374 million, short positions were liquidated for $55.4391 million, BTC was liquidated for $39.2379 million, ETH was liquidated for $26.5550 million, and SOL was liquidated for $10.2312 million.

  • Türkiye proposes to align crypto legislation with international standards

    Turkey's ruling party submitted a draft encryption bill to parliament on May 16. The bill focuses on licensing and registration of encryption service providers and aligning with international standards.The draft law aims to update existing legislation to comprehensively regulate the emerging cryptocurrency market. The key areas of focus for the bill include consumer protection, platform transparency, and compliance with financial regulations. The proposed legislation aims to regulate cryptocurrency trading platforms and other service providers in the industry, requiring them to obtain a license from the Capital Markets Board of Turkey.