FTX Japan to resume crypto and fiat withdrawals on Feb. 21
Quick Take
- FTX Japan will begin processing withdrawals for customers from tomorrow.
- The company is also looking to resume other business operations.
FTX Japan, the Japanese subsidiary of the collapsed crypto exchange FTX, will resume crypto and fiat withdrawals from Feb. 21.
Withdrawals will be processed via the Liquid Japan web platform, it said in a company statement. FTX acquired Liquid in 2022.
Customers with assets on the exchange will have to confirm their balance. Users without an account on Liquid Japan will need to open one to withdraw their assets, the company added.
FTX Japan said that it had contacted all users with funds on the platform. The company said these users have been informed of the withdrawal procedure. FTX Japan urged users to be mindful that the process could be slow, given the volume of pending requests.
FTX Japan paused crypto and fiat withdrawals in November 2022 after the collapse of the FTX crypto exchange and its sister trading firm Alameda Research. The platform was initially asked to suspend its operations in early December 2022. FTX Japan, however, secured an extension to this order until March 2023. The platform is looking to announce the resumption of other services, according to Monday’s statement.
Disclaimer: The former CEO and majority shareholder of The Block has disclosed a series of loans from former FTX and Alameda founder Sam Bankman-Fried.
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