May 8, 2024

FTX to Begin Returning Customer Assets in February

FTX, a cryptocurrency exchange, has announced that it will begin returning customer assets in February. The Japanese unit of the exchange stated that it is developing a system in conjunction with Liquid Japan, a crypto exchange that FTX purchased in February of this year, through which customers can withdraw their assets. This news comes after FTX filed for bankruptcy protection in the United States in November and its CEO, Sam Bankman-Fried, resigned. The collapse of FTX has had significant consequences for the cryptocurrency market, with bitcoin reaching its lowest level in two years and concerns about contagion among other firms that have been impacted by the decline in the crypto market this year.

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