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.
Liquid, une filiale japonaise de FTX, s’apprête à rembourser ses clients lésés
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.
🎙️ Listen to this article and all the crypto news on Spotify
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.
👉 On the same subject – What does Alameda Research play? $1.7 million worth of tokens sent to mixers
Trade on the leading DEX
⛓️ A platform at the heart of DeFi
Source: Press release
Newsletter 🍞
Receive a summary of crypto news every Monday by email 👌
What you need to know about affiliate links. This page presents assets, products or services relating to investments. Some links in this article are affiliated. This means that if you buy a product or register on a site from this article, our partner pays us a commission. This allows us to continue to offer you original and useful content. There is no impact on you and you can even get a bonus by using our links.
Investments in cryptocurrencies are risky. Cryptoast is not responsible for the quality of the products or services presented on this page and could not be held responsible, directly or indirectly, for any damage or loss caused following the use of a good or service highlighted in this article. Investments related to crypto-assets are risky by nature, readers should do their own research before taking any action and only invest within the limits of their financial capabilities. This article does not constitute investment advice.
AMF recommendations. There is no guaranteed high return, a product with high return potential involves high risk. This risk-taking must be in line with your project, your investment horizon and your ability to lose part of this savings. Do not invest if you are not ready to lose all or part of your capital.
To go further, read our Financial Situation, Media Transparency and Legal Notices pages.
Passionate about the world of decentralized finance and the novelties brought by Web 3.0, I write articles for Cryptoast to help make blockchain more accessible to everyone. Convinced that cryptocurrencies will change the future very soon.
Maximilien Prue
530 items
