FTX’s Liquid Exchange hopes to return customer assets next Year

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According to the exchange, it plans to provide more details in a January 2023 report. News Ho-hoo-ho! Limited Holiday Trait According to the December 29 statement on its blog, the exchange is preparing for the return of assets entrusted to it by customers from FTX Japan or Liquid Japan. A report for January 2023 will further detail the details. The team released the following statement: “For the assets entrusted by our customers at FTX Japan or Liquid Japan we are proceeding with system design so that withdrawals from the Liquid Japan website version will be possible.” According to Liquid the system will allow users who are unable access FTX to check their balance on the Liquid Japan website and make withdrawals. Customers who use the Liquid Japan platform will be able to withdraw as normal. We are working with FTX Debtors in relation to Liquid. We are not forgetting our users and will continue to provide updates as soon as we can. We appreciate your patience and understanding. — Liquid Global Official (@Liquid_Global), December 14, 2022
Related: FTX reportedly gets three more months to cease all operations in Japan. Liquid stopped all withdrawals on November 15th following the liquidity crunch facing its parent company FTX. The exchange suspended all trading operations on the platform shortly thereafter, Nov. 21 in accordance with FTX Trading. According to the statement, Liquid exchange suspended all trading operations on its platform in accordance with instructions from FTX Trading. The suspension deadline for FTX Japan was extended to March 9, 2023 by Japanese authorities. This was due to the fact that the firm had failed return assets to creditors. Mid-November saw Japan’s Financial Services Agency (FSA), request FTX Japan to suspend all business orders by December 9. Liquid, a cryptocurrency exchange founded in 2014, is licensed under Japan’s Payment Services Act through its Japanese operation entity, Quoine Corporation. Cointelegraph reported that FTX purchased Liquid Group and its affiliates in February 2022.