FTX Japan sets date for resuming withdrawals

On February 21, FTX Japan will resume withdrawals of digital assets and fiat. This is statement by the bitcoin exchange.

The process will be conducted via the Liquid Japan platform. Customers holding assets on the exchange must confirm their balance and account.

Representatives of FTX Japan warned that withdrawals may take some time due to the high volume of requests. According to them, users have been informed of the procedure.

“We will announce the resumption of other FTX Japan services at the earliest opportunity,” the statement says.

In February 2022, FTX acquired a Japanese crypto exchange and related entities. In the summer, Sam Bankman-Fried’s company announced the launch of a local subsidiary, renaming Liquid to FTX Japan K.K.

In November, Liquid paused withdrawals after filing for bankruptcy protection under Chapter 11 of the U.S. Bankruptcy Code.

Five days later, the platform ceased trading.

Earlier, in December, FTX Japan promised to devise a plan to return client funds after it was confirmed that they were outside the scope of the parent company’s bankruptcy proceedings.