FTX-Owned Japanese Exchange Hopes to Return Customer Assets in 2023

Joshua Ramos
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Source: Rival Times

The FTX-owned cryptocurrency exchange platform, Liquid, has announced its plans to return customer assets in 2023. The official announcement published today states the platform’s intention to begin to develop a system to allow possible withdrawals by customers of FTX Japan and Liquid Japan.

Moreover, the statement noted that the company is currently devising a January 2023 report. That document is set to outline official plans for the retrieval of customer assets and is likely to include a more specific timetable of when those withdrawals will be active.

Source: The Verge

FTX-Owned Liquid Exchange Announces Plan

FTX has dominated the headlines in the cryptocurrency industry more than anyone else these last few months. Formerly one of the most prominent crypto exchange platforms, it is now synonymous with one of the largest fraud arrests in recent memory. Subsequently, the contagion of its bankruptcy is continuing to affect the industry as a whole.

Yet, one platform affected has stated its incentive to try and make things right. FTX-owned exchange platform Liquid has announced its intention to retrieve lost customer funds. In a statement released today, the Japaned exchange stated that it will divulge further updates on their retrieval updates in an official report for January of 2023.

“For assets entrusted to us by our customers at FTX Japan and Liquid Japan,” the platform stated, “We are proceeding with system development so that withdrawals will be possible from the Liquid Japan web version.”

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Source: Cryptoslate

According to that statement, Liquid intends to develop a statement for users unable to access FTX funds. It urges those users to access their Liquid Japan web version, and withdraw the assets from there. Conversely, Liquid Japan users have the ability to withdraw without hindrance currently. The development follows the platform’s previous statement that they are “cooperating with FTX debtors,” and had “further updates,” on the horizon.

The FTX Japan development comes after CoinTelegraph reported FTX’s court battle to retain holds of Robinhood Shares. Bankruptcy Judge Michael Kaplan is settling the dispute as to whether FTX or BlockFi retains Robinhood shares in contention. The settlement may indicate that a neutral, third-party broker, would hold the shares temporarily.