FTX Japan announced on its official website that customers of FTX Japan can start withdrawing money today, February 21, 2023, at 12:00 (JST).
- Users can initiate withdrawals through the Liquid Japan platform. Liquid Japan is a licensed Japanese crypto asset exchange acquired by FTX in 2022. Customers with assets in the account must confirm their balance and transfer it to their Liquid account. FTX Japan customers without a Liquid Japan account must open an account before receiving their assets.
- According to documents published on December 26, 2022, FTX Japan manages customer deposits for all 14 cryptocurrencies it handles, including BTC and ETH. In addition, the company managed a legal currency balance of about 6.3 billion yen, exceeding customer deposits by about 300 million yen.
See Related: FTX’s Former Executives Subpoenaed By Voyager Creditors To Explain Failed Bailout Attempts
- FTX Japan adheres to strict rules set forth by the Financial Services Authority and is subject to Japanese laws regarding separate asset management. The agency has managed to minimize the impact of FTX Global’s bankruptcy and take steps towards a smooth refund process for customers.
- This is good news for investors using FTX in this Asian country, “Amazing, in the gloom caused by FTX, this is the best decision I’ve ever seen, Japanese Government Banzai” – the delight of Mr. Dendei who invested 50K$ in FTX, told The Distributed.
