Japanese FTX clients will soon be able to review their locked funds, according to a statement recently released by Liquid, a Japanese subsidiary of FTX. The latter is currently working on writing a detailed report of the assets currently immobilized in order to be able to return them in the coming months.
Japanese FTX Clients Will Soon Be Able To Recover Their Funds
Liquida cryptocurrency exchange acquired by FTX in February 2022 as part of its expansion into Japan, prepares to reimburse its users.
According to its own press release, the refund procedure will concern Liquid customers, but also those of FTX Japan. The latter will be able to consult their balance directly from the future Web version of Liquid and make the corresponding withdrawals.
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A decision that contrasts sharply with growing uncertainty among European and American customers of the group who find themselves mired in the calamitous management of FTX, once one of the largest cryptocurrency exchanges which will have ended up filing for bankruptcy with billions of dollars in debt.
As Liquid was only recently acquired by FTX, it is one of the few companies to have escaped its mismanagement and been able to retain some financial independence. As such, FTX Japan is part, alongside FTX Europe, Embed Business and LedgerXentities that may still be sold by the FTX Group.
However, Liquid still remaining under the authority of its parent company, the subsidiary found itself obliged to suspend trading activities on its platform following the bankruptcy filing of FTX, a few days after deactivating the withdrawal features.
No specific date has been given, but it seems that withdrawals will be possible in the coming months for FTX’s Japanese customers. According to the release, Liquid is planning a detailed report of upcoming operations. for next January with a more precise schedule of withdrawals.
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Source: Press release
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