FTXs Liquid exchange hopes to return customer assets next year

Japanese cryptocurrency exchange Liquid, owned by FTX, announced plans to begin the process of returning customer assets in 2023.

According to a Dec. 29 statement on the blog, the exchange is preparing to return assets entrusted to it by both FTX Japan and Liquid Japan customers, and is working on a report to outline further details in January. increase.

Here is the statement from the team:

We are developing a system so that customers can withdraw assets entrusted to them by FTX Japan and Liquid Japan from the web version of Liquid Japan.

According to Liquid, the system is intended to allow users without access to FTX to check their FTX Japan balance and withdraw money from it via the Liquid Japan website. However, customers using the Liquid Japan platform are expected to be able to withdraw normally.

On Dec. 13, the exchange took to Twitter to reassure the community that it is working with FTX debtors in relation to Liquid, and that it hasn’t forgotten about its customers.

We are working with FTX Debtors as it relates to Liquid. We haven’t forgotten our users. We will provide further updates when possible. We appreciate your understanding and cooperation.

Liquid Global Official (@Liquid_Global) December 14, 2022

Related: FTX reportedly takes three more months to halt all operations in Japan

November 15th, Liquid has stopped all withdrawals Following the liquidity crisis faced by its parent company, FTX.

Shortly thereafter, on November 21st, The exchange has suspended all trading operations On the platform as directed by FTX Trading. Liquid exchange has suspended “all forms of trading” due to FTX’s Chapter 11 bankruptcy filing, according to a statement.

On December 9th, Cointelegraph reported: Japanese authorities extend suspension deadline for FTX Japan By March 9, the company was unable to return the assets to the creditors who had them in custody, so the original deadline was extended by three months. In mid-November, Japan’s Financial Services Agency (FSA) initially asked FTX Japan to stop placing orders by December 9.

Founded in 2014, Liquid is a cryptocurrency exchange licensed under the Japanese Payment Services Act through its Japanese entity, Quoine Corporation. Cointelegraph, as previously reported by FTX Acquired Liquid Group and its subsidiaries in February.