FTX-owned Liquid announces plan to return customer funds

Quick Take

  • Liquid, a Japanese fintech firm owned by FTX, has announced plans on how it will return customer funds. 
  • The move comes one day after a class action lawsuit seeking to prioritize FTX customers retrieving their assets. 

Liquid, a Japanese fintech firm owned by FTX, has released a plan on how the firm will return assets to customers. 

The return process will be specific to users who have FTX Japan and Liquid Japan accounts, according to a statement.

"For the assets entrusted to us by our customers at FTX Japan and Liquid Japan, we are proceeding with system development so that withdrawals and withdrawals will be possible from the Liquid Japan web version. Specifically, you will be able to check your FTX Japan balance from the Liquid Japan web version, and then you will be able to withdraw/take out," Liquid said, according to a translated company release

FTX closed on the acquisition of Liquid, which operates in Japan, Singapore and Vietnam, in March. FTX filed for Chapter 11 bankruptcy on Nov. 11.

Liquid's move comes one day after a class action lawsuit seeking to prioritize FTX customers getting their funds back.

Disclaimer: Beginning in 2021, Michael McCaffrey, the former CEO and majority owner of The Block, took a series of loans from founder and former FTX and Alameda CEO Sam Bankman-Fried. McCaffrey resigned from the company in December 2022 after failing to disclose those transactions.


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