FTX Japan To Resume Withdrawals on February 21st, Since November Crisis

Key Points: According to a February 20 announcement by FTX Japan withdrawals for fiat assets and crypto assets would resume on February 21.
According to the Japanese affiliate of the insolvent exchange, withdrawals will be made through the Liquid Japan online portal.
Users must authenticate their accounts and transfer them to Liquid’s website. If you don’t have a Liquid account, you will need one.
FTX Japan, the Japanese affiliate of the failed cryptocurrency exchange FTX, will begin processing fiat and cryptocurrency withdrawals on February 21st. The company released a statement stating that withdrawals would be processed through the Liquid Japan online portal. Liquid Japan, a licensed Japanese crypto asset trading platform, was acquired by FTX in 2022. Clients must verify their assets to withdraw them. Users who don’t have an account on Liquid Japan to withdraw their assets must create one. According to the corporation, these consumers were notified about the withdrawal process. FTX Japan advised consumers that due to the high number of pending requests, the withdrawal process could take some time.
“Please note that withdrawals can take up to a few days due to the high volume of customer requests. The exchange stated that it would announce the resumption or other FTX Japan services as soon possible.
FTX Japan, together with its 134 subsidiaries, and sister trading firm Alameda Research, stopped crypto and fiat withdrawals in Nov 2022. They also frozen the assets of approximately 9 million customers and locked billions of dollars in pending litigation. FTX Japan had cash reserves of approximately 19.6 billion yen (or more than $138,000,000) before it was shut down. On November 10, 2022, the Financial Services Agency of Japan gave FTX permission to halt all activities, including taking new deposits, and to comply with a business improvement order. The vast majority of FTX clients (including FTX US users) are still unable withdraw their assets because of bankruptcy proceedings. FTX Japan was able to extend this order until March 2023. According to Monday’s announcement, the platform plans to announce the launch of additional services. We encourage you to do your own research before investing.Join us to keep track of news: NewsTags: Alameda ResearchFTXFTX JapanLiquid Japan