FTX Japan announced the schedule for recovering customer withdrawals in mid February
From the middle of February, customers with trading accounts in the closed FTX Japanese subsidiary of Cryptocurrency Exchange will be able to withdraw funds.
After FTX Japan initially stopped service on November 8, it released a schedule to resume customer withdrawals on Thursday.
According to the company, FTX Japan will start contacting customers from the middle of January, and the withdrawal service will resume from the middle of February.
Timetable may change, FTX warning
The company warned that the timetable could change depending on the progress of the external security audit.
FTX Japan KK holds approximately US $94.5 million in crypto assets and US $46 million in fiat currency in designated customer accounts.
Sam Bankman Fried, the founder of the company, is now facing criminal charges for his role in the collapse of his cryptocurrency empire, which exposes investors to potential losses of billions of dollars.
FTX faces scrutiny because of its relationship with Washington, because Bankman Fried is a major Democratic donor, while his former deputy Ryan Salame is a major Republican donor.
Highly concentrated spontaneous FTT equity
FTT/USD
+0.68%
Bankman Fried's hedge fund Alameda Research used tokens as collateral for billions of dollars of cryptocurrency loans to accelerate the decline of FTX.
When Binance, a rival exchange, said that it would sell its FTT holdings, a large amount of capital flowed out.
A few days later, the company filed for bankruptcy.