• FTX Japan has announced its plan to resume fiat currency and crypto assets withdrawal for their users.
• Customers will withdraw their funds through Liquid Japan’s website, with those who do not have a liquid Japan account being required to have one before moving their assets.
• FTX Japan is sending emails to eligible clients concerning the details of the process and the required steps to follow to withdraw their funds.
FTX Japan To Allow Withdrawals
The Japanese subsidiary of the bankrupt crypto exchange FTX has revealed its plan to resume fiat currency and crypto assets withdrawal for its users. Starting from February 21, customers will be able to use Liquid Japan’s website in order to withdraw their funds. Those without an account on Liquid Japan are expected to create one before transferring any assets.
Why Only Japan?
This privilege does not extend to any of the exchange’s international counterparts, as only FTX Japan customers will be able to take advantage of this service. The platform is currently sending out emails regarding the details of the process and instructions needed in order to complete withdrawals successfully.
Sam Bankman-Fried Pleads Not Guilty
Co-founder Sam Bankman-Fried (SBF) pleaded not guilty in front of a US trial after being charged with fraud back in November 2022 amid a downturn in the crypto industry which left over a million creditors stranded. His spokesperson Mark Botnick stated that SBF was very happy that Japanese exchange was progressing forward and believed that same should happen soon enough with exchanges based in the US too.
Processing Time May Vary
FTX Japan noted that due potential excessive requests from customers, processing times may vary depending on how many people need assistance at once. All eligible clients are encouraged by FTX Japan staff members to confirm their balances promptly before attempting transfers or withdrawals onto another platform or wallet address respectively.
Other Services Coming Soon?
At this time it remains unclear whether or not other services such as deposits etc., will also become available soon or if they are still indefinitely suspended until further notice from FTX officials themselves. However, despite these uncertainties, customers can now finally begin withdrawing their assets safely back into wallets under their own control following months of waiting since last year’s bankruptcy announcement by FTX itself