FTX Japan to return assets to clients from February

FTX Japan to return assets to clients from February
Representations of cryptocurrencies are seen in front of displayed FTX logo in this illustration taken November 10, 2022. REUTERS/Dado Ruvic/Illustration

By Junko Fujita

TOKYO (Reuters) – The Japanese unit of failed cryptocurrency exchange FTX said on Friday it would return its customer assets from February.

FTX Japan is developing a system with which customers can withdraw assets via the website of Liquid Japan, a crypto exchange it bought in February this year.

“We deeply apologise for the big trouble caused by the prolonged suspension of services for the withdrawal of legal currency as well as crypto assets,” FTX Japan said in a statement.

FTX filed for U.S. bankruptcy protection in November and its founder Sam Bankman-Fried resigned as chief executive, after the biggest blowup in the crypto industry drew calls for tighter regulation.