FTX Japan Announces Plan to Reopen Bitcoin, Crypto and Cash Withdrawals for Customers

The Japan-based division of the defunct global crypto exchange FTX is preparing to reopen withdrawals for its customers.

In a new press release, FTX Japan says it will use its Liquid Global platform to process withdrawals in Bitcoin, crypto and fiat currency in the near future.

The exchange says eligible customers have already been notified by e-mail.

“Customers who have assets in their FTX Japan account must confirm the asset balance of their FTX Japan account before using this service, and then open/confirm a Liquid Japan account (customers who do not have a Liquid Japan account may open an account is required) and procedures for transferring to a Liquid Japan account are required.”

FTX imploded in November of last year, as it became clear that the company was engaged in systemic misuse of billions of dollars in customer funds.

FTX founder Sam Bankman-Fried is now accused of committing one of the biggest financial frauds in US history.

He has pleaded not guilty and faces up to 115 years in prison for conspiracy to commit wire fraud on customers, wire fraud on customers, conspiracy to commit wire fraud on lenders, wire fraud on lenders, conspiracy to commit commodities fraud, conspiracy to commit securities fraud, conspiracy to commit money laundering and conspiracy to violate U.S. campaign finance laws.

Featured Image: Shutterstock/Tithi Luadthong