In February 2023, FTX Japan will begin to repay its clients’ holdings. The process is expected to be conducted via Liquid Japan, a cryptocurrency trading platform that FTX Japan recently acquired.
Customers will be able to access their accounts, view balances, and begin withdrawing their funds in mid-January.
FTX Japan has expressed remorse for the extended period of service stoppage, during which customers were unable to withdraw their fiat money and crypto assets.
The new leadership of FTX, led by John Ray III, has submitted a motion to the Bankruptcy Court of Delaware to approve bidding processes for four of FTX’s independent solvent subsidiaries in the United States, Japan, and Europe.
When FTX Trading declared bankruptcy, FTX Japan had been operational for only six months but was storing $94.5 million in crypto assets and $46 million in fiat funds in separate customer accounts.
