Saturday , November 2 2024
Home / Crypto news / FTX Japan Has Until March 2023 to Cease All Operations (Report)

FTX Japan Has Until March 2023 to Cease All Operations (Report)

Summary:
The Japanese authorities reportedly extended the business suspension order to FTX Japan until March 9, 2023. Initially, the company had to cease all services on December 9. According to recent coverage, the Kanto Local Finance Bureau will grant FTX Japan three more months before halting all its activities. The final date has moved from December 9, 2022, to March 9, 2023, because the company still struggles to return assets to customers. The authorities further claimed that FTX Japan’s trading system continues to be out of order. The Japanese subsidiary of the bankrupt exchange vowed to resume customer withdrawals by the end of 2022 by developing new infrastructure. It reiterated its intentions at the beginning of December, assuring that cash and cryptocurrencies stored on

Topics:
Dimitar Dzhondzhorov considers the following as important: , , ,

This could be interesting, too:

Wayne Jones writes dYdX CEO Declares 35% Workforce Reduction

Chayanika Deka writes Former FTX’s Head of Engineering Nishad Singh Dodges Prison

Mandy Williams writes Aave Sees 0M Weekly Increase in cbBTC Inflows, But There’s a Catch

Wayne Jones writes MrBeast Linked to Over 50 Crypto Wallets Allegedly Involved in Insider Trading: Report

The Japanese authorities reportedly extended the business suspension order to FTX Japan until March 9, 2023.

Initially, the company had to cease all services on December 9.

  • According to recent coverage, the Kanto Local Finance Bureau will grant FTX Japan three more months before halting all its activities.
  • The final date has moved from December 9, 2022, to March 9, 2023, because the company still struggles to return assets to customers.
  • The authorities further claimed that FTX Japan’s trading system continues to be out of order.
  • The Japanese subsidiary of the bankrupt exchange vowed to resume customer withdrawals by the end of 2022 by developing new infrastructure.
  • It reiterated its intentions at the beginning of December, assuring that cash and cryptocurrencies stored on the platform are not part of the company’s estate.

“Based on this, we will promote the above return plan and plan to resume withdrawal and retrieval services as part of normal operations as soon as preparations are complete,” FTX Japan stated at the time.

  • Logically, the collapse of FTX has caused tremendous issues for the Japanese affiliate. The latter reportedly has over $170 million in cash on its books, making it the third-biggest source of money for the former crypto giant.

You Might Also Like:

Leave a Reply

Your email address will not be published. Required fields are marked *