FTX Japan Says Work Underway to Allow Withdrawal of Client Funds
- Plan was approved by FTX management, shared with regulators
- FTX group may have over a million creditors around the world
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The Japanese subsidiary of failed crypto empire FTX said it is working to allow users in the country to withdraw their funds, paving the way for a rare case of investors getting money back from the collapsed exchange.
The plan for the resumption of withdrawal services, which were first suspended on Nov. 8, has been approved by the new FTX Trading management team, according to an update on its website on Thursday. As part of the plan, the firm is incorporating controls, security audit, reconciliations, and reviews.