FTX Japan customers are expected to be able to withdraw their cryptocurrency holdings in mid-February.
Liquid, a Japanese subsidiary of now-bankrupt cryptocurrency exchange FTX, is planning to return customer funds in February 2023.
According to the announcement shared on December 29th, the company is looking to return funds to customers holding their assets in FTX Japan and Liquid Japan.
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At the beginning of its statement, Liquid apologized to its customers for the current situation.
We deeply apologize for the big trouble caused by the prolonged suspension of services for the withdrawal of legal currency as well as crypto assets.
The company revealed that its action plan to return crypto assets to their rightful owners includes developing systems enabling FTX Japan customers to withdraw funds through Liquid Japan.
For the assets entrusted to us by our customers at FTX Japan and Liquid Japan, we are proceeding with system development so that withdrawals will be possible from the Liquid Japan web version.
FTX subsidiary stated that users will be able to access their funds in a three-step process. The first phase, expected to be launched in mid-January, will allow eligible FTX Japan customers to open their Liquid Japan accounts. In the second phase, users will be able to check their crypto balances and transfer funds from FTX Japan to Liquid Japan.
Lastly, in mid-February, the company expects to open its withdrawal services.
At the end of its announcement, Liquid Japan stated that additional information is expected to be shared in January.
On December 13th, Liquid Global shared a message to Twitter claiming that it was “cooperating with FTX Debtors” to return funds to its Japanese investors.
Liquid initially halted its withdrawals on November 15th. Shortly after that, on November 21st, Liquid ceased all of its trading operations, claiming that it received instructions from FTX Trading.
