{"id":70877,"date":"2022-12-02T10:13:39","date_gmt":"2022-12-02T08:13:39","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=70877"},"modified":"2025-09-08T04:44:32","modified_gmt":"2025-09-08T01:44:32","slug":"ftx-japan-to-present-plan-to-return-client-funds","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/ftx-japan-to-present-plan-to-return-client-funds\/","title":{"rendered":"FTX Japan to present plan to return client funds"},"content":{"rendered":"<p>The Bitcoin exchange FTX Japan (Liquid)<a href=\"https:\/\/help-jp.ftx.com\/hc\/ja\/articles\/13054195917593\">will develop<\/a> a plan for returning client funds after it is confirmed that they are outside the bankruptcy proceedings of the parent company.<\/p>\n<p>This followed from the segregation of user funds and the platform itself, under Japanese law. The obligation extends to funds in both fiat and digital assets.<\/p>\n<p>The platform submitted to regulators a draft plan for resuming withdrawals, envisaging that regular consultations would be conducted as key milestones are reached.<\/p>\n<p>In February FTX <a href=\"https:\/\/forklog.com\/en\/news\/ftx-agrees-to-acquire-liquid-the-bitcoin-exchange\">acquired<\/a> the Japanese crypto exchange and related entities. In the summer, Sam Bankman-Fried&#8217;s company <a href=\"https:\/\/forklog.com\/en\/news\/ftx-opens-japan-unit-as-crypto-com-secures-dubai-license\">announced<\/a> the launch of a local subsidiary, rebranding Liquid as FTX Japan K.K.<\/p>\n<p>In November the Japanese Financial Services Agency ordered the platform <a href=\"https:\/\/forklog.com\/en\/news\/japan-regulator-orders-local-ftx-unit-to-suspend-operations\">to suspend operations<\/a> and switch to close-only mode.<\/p>\n<p>On November 11, Liquid <a href=\"https:\/\/forklog.com\/en\/news\/japanese-bitcoin-exchange-liquid-suspends-withdrawals\">suspended withdrawals<\/a> after <a href=\"https:\/\/forklog.com\/en\/news\/ftx-group-files-for-bankruptcy-sam-bankman-fried-resigns-as-ceo\">FTX Group filed for bankruptcy<\/a> under Chapter 11 of the U.S. Bankruptcy Code.<\/p>\n<p>Five days later the platform <a href=\"https:\/\/forklog.com\/en\/news\/liquid-halts-trading-on-japanese-bitcoin-exchange\">ceased trading<\/a>.<\/p>\n<p>Follow ForkLog&#8217;s bitcoin news on our <a href=\"\/\/telegram.me\/forklog\u201d\" target=\"\u201c_blank\u201d\" rel=\"\u201cnofollow\u201d noopener\">Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Bitcoin exchange FTX Japan (Liquid) will develop a plan for returning client funds after it is confirmed that they are outside the bankruptcy proceedings of the parent company.<\/p>\n","protected":false},"author":1,"featured_media":70878,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1166,1236,888],"class_list":["post-70877","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-centralized-exchanges-cex","tag-ftx","tag-liquid"],"aioseo_notices":[],"amp_enabled":true,"views":"19","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/70877","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=70877"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/70877\/revisions"}],"predecessor-version":[{"id":70879,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/70877\/revisions\/70879"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/70878"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=70877"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=70877"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=70877"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}