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FTX Japan Can Hope To Get The Funds Back In January Next Year

Key Points:

FTX Japan unveiled its plans regarding the return of assets to its customers.
As per the blog post, FTX Japan and Liquid Japan are proceeding with system development so that withdrawals will be possible from the Liquid Japan web version.
The future timeline and roadmap include three milestones.

FTX Japan revealed its plans for returning assets to its clients in a blog post and a tweet.

As per the blog post, for the assets entrusted to us by customers at FTX Japan and Liquid Japan, the team is proceeding with system development so that withdrawals and withdrawals from the Liquid Japan web version will be possible. Specifically, users will be able to check their FTX Japan balance from the Liquid Japan web version, and then they will be able to withdraw/take out.

The future timeline and roadmap include three milestones.

Milestone 1

Liquid Japan account opening – Customers eligible for FTX Japan returns will be sent an email with a link to open a Liquid Japan account. If users already have a Liquid Japan account, this procedure is not necessary.

Milestone 2

Balance Check and Transfer – Users will be able to log in to Liquid Japan to check their balance and transfer assets from FTX Japan to Liquid Japan.

Resumption of Milestone 3

Withdrawal and Delivery Service – Withdrawal and delivery from Liquid Japan will be possible.

In the middle of January, an email on how to open a Liquid account will be sent to all eligible clients. The post explained how the timing timetable could alter based on how the external security audit is going.

Previously, the FTX subsidiary in Japan also provided detailed plans for the return of funds to customers. The team has been testing it internally and expects the process to happen later this month. However, it has been delayed and is scheduled for mid-January 2023.

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Harold

Coincu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.