FTX Japan to resume withdrawals on Feb. 21 FTX Japan to resume withdrawals on Feb. 21
FTX Japan said it would announce the resumption of its services soon, according to a Feb. 20 press statement.
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Updated: Feb. 20, 2023 at 2:44 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
FTX Japan said it would resume withdrawals for fiat and crypto assets on Feb. 21, according to a Feb. 20 statement.
The Japanese subsidiary of the bankrupt exchange said the withdrawals would be processed via the Liquid Japan web platform.
FTX Japan said users must confirm their balances and transfer them to Liquid’s platform. According to the statement, users without a Liquid account are required to open one.
The exchange added that the withdrawal process might take some time to be completed because it anticipates a large number of requests from customers. FTX Japan said:
“We will announce the resumption of other FTX Japan services as soon as possible.”
The Japan-based exchange paused withdrawals in November 2022 after the collapse of the FTX crypto exchange. In Dec. 2022, the exchange said it was working to make users’ funds available to them.
Meanwhile, certain investors have already shown interest in acquiring the firm.
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FTX is a defunct cryptocurrency exchange, currently in bankruptcy proceedings, that was founded by Sam Bankman-Fried and Zixiao “Gary” Wang in May 2019.