Crypto exchange FTX's Japan unit starts resumption of customer withdrawals

FTX Japan has become the first subsidiary of Sam Bankman-Fried's onetime cryptocurrency empire to resume customer withdrawals, according to a statement earlier this week. The Japanese arm of collapsed crypto exchange FTX ( FTT-USD ) first allowed its customers to withdraw their fiat and crypto assets at 12:00 p.m. Tuesday, in Tokyo (10:00 p.m. Monday, New York). The withdrawal process "may take some time" if a sizable number of requests take hold from customers, the statement said. "We will announce the resumption of other FTX Japan services as soon as possible." In mid-January, FTX got the green light to start offloading four of its affiliates, including FTX Japan, as part of its effort to raise funds and repay customers. Financial Services provider Monex Group was said to have expressed interest in FTX Japan among more than 100 interested buyers. FTX Japan said towards the end of December 2022 that it was working on reopening withdrawals through Liquid Japan's website in February .