The announcement on the site’s website states that the withdrawal of fiat currencies and crypto assets became available to FTX Japan customers through the Liquid Japan web platform on February 21.
In early December last year, FTX Japan announced that it plans to resume local customer withdrawals, which were suspended on November 8th. The exchange argued that the assets of Japanese clients are not part of the property of FTX Japan and are not related to the group’s ongoing bankruptcy proceedings in the United States. The division’s team notified US lawyers of this and, on that basis, resumed withdrawals for their clients.
In order to withdraw funds, users who have assets in FTX Japan accounts must verify their balance and transfer them to an account with Liquid Japan, a platform that is part of the FTX Japan group and serves residents of Japan. Customers who do not have an account with Liquid Japan need to open one before they can transfer assets.
Instructions on how to withdraw assets have been sent to all FTX Japan customers. The exchange team warned that due to the large number of requests, the withdrawal process may take some time.
In mid-December, the FTX group of companies, which is undergoing bankruptcy proceedings in the United States, asked the court for permission to sell FTX Japan. The petition stated that the sale of this site could allow it to resume its activities.