ChainCatcher news, according to CoinPost, the Japanese exchange BitFlyer announced today that it has completed the acquisition of 100% of the outstanding shares of FTX Japan, making FTX Japan a wholly-owned subsidiary. The subsidiary will be renamed on August 26, and FTX Japan will develop new cryptocurrency custody services under bitFlyer Holdings.In addition, BitFlyer also stated that it plans to offer services related to cryptocurrency spot ETFs once the Japanese legal framework is in place.

ChainCatcher news, according to FTX Japan's Chief Operating Officer Seth Melamed, FTX Japan will provide Proof of Solvency in a tamper-proof and verifiable manner to demonstrate the assets deposited by customers on its exchange.Seth Melamed stated that FTX Japan strictly manages customer assets separately in accordance with laws and regulations. By introducing Proof of Solvency, cryptographic technologies such as zero-knowledge proofs will be used for verification, and the results will be reflected on the blockchain. Customers will be able to check the status of their asset management, and the Proof of Solvency service will be available to all users of both FTX Japan and Liquid Japan platforms. Further details on FTX Japan's Proof of Solvency will be published weekly on Ethereum.

ChainCatcher news, according to Nikkei, FTX plans to postpone the sale of its Japanese subsidiary FTX Japan and has communicated its intentions to the Financial Services Agency of Japan through FTX Japan. Among them, an executive from the FTX group stated, "They hope to increase the sale price by selling the entire group rather than selling individual regional subsidiaries." (source link)

ChainCatcher news, Twitter user @AFTXcreditor, claiming to be an FTX creditor, quoted disclosure documents on Twitter indicating that FTX confirmed plans to restart its Japanese exchange. Although there are investors interested in bidding for the company, the sale plan has been suspended to maximize value. FTX Japan also proposed a core employee incentive plan called "Licensing and Restart Award."According to the screenshot of the document: "The potential sale process of FTX Japan has been postponed to allow the exchange to restart operations upon obtaining regulatory approval, which will maximize the value of the transaction. As of the date of this agreement, a considerable number of investors have expressed interest in acquiring the company. Meanwhile, the debtor is considering a potential restructuring, which will require the company to continue operating efficiently and profitably. The key to a successful restructuring or transaction is for the company to maintain its licenses as a cryptocurrency exchange service provider and a first-class financial instrument business operator, as there are few operators in Japan that hold both licenses." (source link)

ChainCatcher news, FTX creditors tweeted citing disclosure documents that the reason for FTX Japan canceling the auction is its plan to restart. The documents indicate "Japan provides the latest updates on possible next steps to reopen the exchange, taking follow-up actions on the work required to reopen the exchange and providing guidance."Previously reported, FTX Japan resumed users' fiat and cryptocurrency withdrawals on February 21 local time. (source link)

ChainCatcher News: The Kanto Local Finance Bureau of Japan has filed an administrative lawsuit against FTX Japan, stating that FTX Japan's assets are unrelated to overseas entities and that all possible measures must continue to be taken to prevent such information leakage. It also requires FTX Japan to retain its assets within Japan from March 10, 2023, to June 9, 2023. (Source link)

ChainCatcher news, Japanese cryptocurrency trader Hibiki Trader tweeted that all withdrawals from FTX Japan have been completed. It is reported that FTX Japan previously issued a statement on February 20, stating that it would resume users' fiat and cryptocurrency withdrawals on February 21 local time. (source link)

ChainCatcher news, FTX Japan announced that it will resume user fiat and cryptocurrency withdrawals on February 21 local time. The statement also mentioned that due to a large number of customer requests, the withdrawal process may take some time to complete. Additionally, other services of FTX Japan will be announced to resume as soon as possible. (Source link)

ChainCatcher news, FTX Japan officially announced that it has notified customers via email to confirm their account balances. Customers need to complete asset transfers through another trading platform, Liquid Japan. Once the preparations are complete, customers will be notified of the specific withdrawal time as soon as possible. According to previous news, based on the repayment plan announced by FTX Japan last December, the exchange will return assets to users this month. If all goes well, FTX Japan will become the first subsidiary under FTX to return assets to users. (Source link)

ChainCatcher news, FTX Japan disclosed the status of customer entrusted assets and the company's own assets as of February 7, with the company's net assets amounting to approximately 10 billion yen (about 76 million USD as of the end of September 2022), and the company's cash and deposits totaling about 17.8 billion yen (approximately 135 million USD as of November 21, 2022). FTX Japan also revealed the scale of customer custodial assets in cold wallets and the management of issued tokens.Regarding the system operation status, all functions on the FTX JP website and platform have been halted, such as inability to log in, screen display issues, withdrawal and shipping stoppages, and inability to make inquiries.It is reported that FTX previously applied to the federal bankruptcy court in December 2022 for approval to sell its Japanese subsidiary FTX Japan through auction. (source link)

ChainCatcher news, Dai Matsumoto, CEO of Japan's Monex Group, expressed interest in acquiring FTX Japan in an interview with Bloomberg, but declined to comment on the bid.It is reported that FTX filed for approval to sell its Japanese subsidiary FTX Japan through an auction in December 2022. Initial bids will close on February 1, and the auction will take place on March 21. Court documents show that about 41 companies have expressed interest in bidding for FTX Japan, with 25 having signed non-disclosure agreements. (Bloomberg)

ChainCatcher news, FTX Japan announced plans to return customer assets in mid-February next year. Eligible users will receive an email in mid-January with information about opening a Liquid Japan account, among other details. FTX Japan stated that the timeline may change based on the progress of external security audits.Earlier, ChainCatcher reported that FTX Japan planned to begin internal testing of the deposit and withdrawal process in a sandbox environment during the last week of December, with a schedule for resuming withdrawals to be announced at the end of the month. (source link)

ChainCatcher news, FTX Japan announced: "The plan to return assets to customers is our top priority, and the necessary development work is progressing in an orderly manner. In the last week of December, we plan to begin internal testing of the deposit and withdrawal process in a sandbox environment."In addition, FTX Japan stated that its parent company, FTX Trading, submitted a request to the U.S. bankruptcy court on December 15 regarding the bidding process to implement an orderly and efficient sale procedure. The main schedule related to FTX Japan in this process is as follows: a bankruptcy court petition hearing on January 11, 2023; preliminary bidding deadline on February 1, 2023; auction on March 21, 2023; hearing on the sale on March 27, 2023. Furthermore, the above application process will not affect the timeline and plan for the resumption of customer withdrawals and withdrawal services. The timeline for resuming withdrawals will be announced at the end of the month. (Source link）

ChainCatcher news, the Kanto Local Finance Bureau of Japan has ordered FTX Japan to suspend operations until March 9, 2023, requiring it to cease over-the-counter derivatives trading and related new investor margin custody services. (Source link)

ChainCatcher news, according to Nikkei, the Financial Services Agency of Japan has extended the business suspension order for FTX Japan, originally set to expire on December 9, as FTX Japan is still unable to provide normal deposit and withdrawal services, and it will take time to refund customer funds.According to a previous report by ChainCatcher, on November 10, the Financial Services Agency of Japan ordered the suspension of FTX Japan's operations and established a "written business improvement plan." (Original link)

ChainCatcher news, FTX Japan announced that it has determined a plan to resume withdrawals, which has been approved by the new management team, and the engineering team has initiated the development work for the plan. FTX Japan stated that customer deposits on FTX Japan are not part of the assets subject to bankruptcy liquidation.In addition, FTX Japan also stated that for the assets deposited by customers, fiat currency is held in a trust account at SBI Clearing Trust Co., Ltd., while cryptocurrency will be stored in a cold wallet managed by the operations team. Regular reports on the management of customer assets will be provided in the future. (source link)

ChainCatcher message, FTX Japan official announcement, in light of the way cryptocurrency assets are held and property rights under Japanese law, the fiat currency and cryptocurrency entrusted to the company by customers are not subject to the U.S. Bankruptcy Code Chapter 11, meaning that the cash and cryptocurrencies of Japanese customers should not be part of FTX Japan's assets. FTX Japan plans to resume normal withdrawal services based on this. (Source link)

ChainCatcher news, according to Bloomberg citing sources, FTX's Japanese subsidiary FTX Japan has drafted a plan to return customer funds, centered on facilitating the return of assets through the Liquid platform starting from January 2023. The specific process includes data acquisition, identity verification, data transmission, balance confirmation, as well as allocation and withdrawal. The plan also requires approval from Japanese regulatory authorities.Earlier reports indicated that FTX Japan aims to resume user withdrawals by the end of the year. (Source link)

ChainCatcher news, according to NHK, an executive from FTX Japan stated in an interview with NHK that the company is preparing to allow customers to withdraw assets by the end of this year. The executive explained that the reason for the withdrawal restrictions is due to the same system as the now-defunct parent company FTX. As a Japanese corporation, they are developing an independent system to enable customers to withdraw their assets. FTX Japan stated that as of November 10, it holds approximately 19.6 billion yen in cash and deposits, ensuring that its customers' assets have not been transferred abroad. (NHK)