Yes, there is still hope for clients of FTX Japan to pull their money out of the crypto exchange and be merry this Christmas.
Clients of the Japanese subsidiary of the collapsed FTX cryptocurrency exchange still have the chance to withdraw their funds before 2023 comes in.
This after executives of the Japan unit of the platform revealed that they are developing a new system that will allow them to resume withdrawal transactions even though its parent company’s computer system is down.
According to the officials, they believe that by the end of 2022, said system will be up and running which will allow their customers to move their assets out.
As of November 10, FTX Japan is said to be holding 20 billion Japanese Yen (equivalent to $138 million) in cash and deposits and it has not recorded any outgoing flow of funds as of this time.
Understanding The FTX Collapse
Things started to go south for the cryptocurrency trading venue that was once worth $32 billion when Binance announced its p
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