David Castillo
Many people in the community have received their money as FTX investors, while others in different countries still have hopes of experiencing a similar result.
As FTX users around the globe wait patiently for a resolution to the legal dispute between FTX and Sam Bankman-Fried (SBF), customers of FTX Japan have begun to withdraw all their funds.
On November 7th, 2022, the process of withdrawing funds from crypto exchange FTX and its affiliated companies was delayed. This occurred after Changpeng Zhao, the CEO of Binance, revealed that Binance would sell off its significant amount of FTX Token holdings. As a result, a chain reaction ensued, which ultimately led to Liquid Group, a Japanese crypto trading platform that FTX acquired in February 2022, stopping withdrawals on November 15th, 2022.
Several investors were pleased to hear that FTX Japan had resumed withdrawals on February 21st. This process required transferring funds from the now-defunct exchange to a Liquid Japan account. Shortly after this development, a well-known Japanese crypto trader named Hibiki Trader reported that they had successfully withdrawn all of their funds.
Hibiki Trader's tweet can be roughly translated as follows:
"I have finished making all the payments! To be frank, initially, I felt like I had lost hope. I want to thank the FTXJP team for their hard work and dedication, especially in the areas that were previously neglected."
The day after they allowed customers to take out money again, FTX Japan brought out that users withdrew around 6.6 billion yen (approx. $50 million).
Although a community member offered congratulations on the escape, many individuals have not yet seen a complete recovery of their finances. The refund procedure is projected to be delayed owing to the significant number of users who were affected by the FTX collapse.
Many members of the community have verified that they have received all their money. Nevertheless, the FTX investors observing from other parts of the globe continue to hold onto the expectation of a similar resolution.