The FTX subsidiaries in Japan indicated in a statement that in mid-February they will begin to return the funds to users, taking into account that they are not part of the FTX Group assets.
After this platform declared bankruptcy and the arrest of its CEO, Sam Bankman-Fried, there was a domino effect that dragged down its affiliates and other cryptocurrency exchanges.
However, recently FTX Japan and Liquid Japan, subsidiaries of FTX in the Asian country, decided to return the funds to the clients, after determining that the money is not part of the funds of the central company.
To access their money, FTX Japan users will need to open an account with Liquid and then transfer to Liquid. A verification of the funds will be made, to be returned to the clients.
The Japanese authorities have made the decision to return the funds to their legal owners, in the midst of a scenario full of doubts and risks. Despite being optimistic, they admit that the FTX situation is not resolved and that delays in the redemption of funds could occur.
(Referential image source: dpa; BSM.UPF.EDU / Europa Press)