FTX Japan Opens Withdrawal of Assets via FTX Affiliate Firm

1. FTX Japan to initiate the withdrawal process of both fiat currency and digital assets
2. Through the Liquid Japan web platform, fiat currency and digital assets can be withdrawn
3. Liquid Japan is a licensed Japanese crypto asset exchange that FTX acquired

On February 20th, a press release announced that FTX Japan, the Japanese branch of FTX, a cryptocurrency exchange facing financial difficulties, will initiate the withdrawal process of both fiat currency and cryptocurrency through the Liquid Japan web platform starting at 12:00 pm on February 21st.

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First of all, we deeply apologize for the great concern and inconvenience to our customers as our services have been suspended for a long time.

Following FTX’s bankruptcy filing in November 2022, FTX Japan ceased its operations and froze the accounts of approximately 9 million customers, with billions of dollars subject to legal proceedings. FTX Japan has advised customers with assets in their accounts to confirm their account balance and transfer them to their Liquid Japan account. 

Liquid Japan is a licensed Japanese crypto asset exchange that FTX acquired in April 2022. Customers of FTX Japan without a Liquid Japan account must open an account with them to receive their assets.

In other news, Huobi Global has applied Hong Kong for a license to trade cryptocurrencies. Justin Sun says that this is a “major step” for them as they keep their promise to be fully regulated and compliant.

In addition to the above news, Sun said that Huobi is also launching a local cryptocurrency exchange. In the same way, the local exchange will look to the Hong Kong government for regulatory approval and oversight.

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