Bankrupt FTX’s Japan Unit Takes Step Closer to Returning Client Funds
- Withdrawals to resume as soon as this month, COO of unit says
- Japanese unit is up for sale as part of FTX bankruptcy process
This article is for subscribers only.
The Japanese subsidiary of Sam Bankman-Fried’s failed crypto empire FTX moved a step closer to becoming the first of the group’s businesses to return money to customers.
FTX Japan K.K. on Friday notified its clients that they can confirm their account balances at the company and migrate assets to a platform called Liquid, said Chief Operating Officer Seth Melamed in a written interview. The step is part of a plan to start allowing withdrawals as soon as this month, under a timeline announced in December.