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.

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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.


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.

© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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MK Manoylov has been a reporter for The Block since 2020 — joining just before bitcoin surpassed $20,000 for the first time. Since then, MK has written nearly 1,000 articles for the publication, covering any and all crypto news but with a penchant toward NFT, metaverse, web3 gaming, funding, crime, hack and crypto ecosystem stories. MK holds a graduate degree from New York University's Science, Health and Environmental Reporting Program (SHERP) and has also covered health topics for WebMD and Insider. You can follow MK on X @MManoylov and on LinkedIn.

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