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Top related persons:
Mark Cuban - 1 Cuban - 1 — - 1 FTX - 1 Sam Bankman - 1
Top related locs:
Japan FTX Japan USA
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Securities and Exchange Commission - 1 SEC - 1 Service - 1 Dallas Mavericks - 1

Search resuls for: "FTX Japan"


12 mentions found


☆ FTX customers who lost all their money when the exchange collapsed should blame the SEC, Mark Cuban says
  + stars: | 2023-07-05 | by ( Zinya Salfiti | ) www.businessinsider.com   time to read: +2 min
FTX customers who lost all their money when the exchange collapsed should blame the Securities and Exchange Commission, according to Mark Cuban. "Of course they chose to litigate to regulate," Cuban said. FTX filed for bankruptcy in November after a bombshell report sparked a run on its deposits, with its collapse wiping out billions of dollars worth of customers' money. "When FTX crashed, no one in FTX Japan lost money," Cuban wrote. "If the USA/SEC had followed their example by setting clear regulations that required the separation of customer and business funds and clear wallet requirements, no one here would have lost money on FTX," he added.
Persons: Mark Cuban, Cuban, —, FTX, Sam Bankman Organizations: Securities and Exchange Commission, SEC, Service, Dallas Mavericks Locations: Japan, FTX Japan, USA
☆ FTX could relaunch - and one of its former VC backers may lead a $250 million funding round to revive the failed exchange, report says
  + stars: | 2023-04-19 | by ( George Glover | ) www.businessinsider.com   time to read: +3 min
Tribe Capital may lead a $250 million funding round to reboot FTX, according to Bloomberg. Tribe's cofounder Arjun Sethi held talks with the failed crypto exchange in January, sources said. The VC firm and its partners could provide $100 million to fund the relaunch, Bloomberg said. Tribe Capital is considering leading a $250 million fundraising effort to help reboot the failed crypto exchange, Bloomberg said, citing people familiar with the matter. Tribe's proposal in January would relaunch FTX US, FTX Australia, FTX Japan, FTX EU, FTX International and LedgerX, Bloomberg said.
☆ FTX Japan to allow asset withdrawals starting Tuesday
  + stars: | 2023-02-21 | by ( ) www.reuters.com   time to read: 1 min
TOKYO, Feb 21 (Reuters) - The Japanese unit of failed cryptocurrency exchange FTX said on Monday it would allow customers to withdraw deposits of fiat currency and crypto assets beginning Tuesday after months of suspension. FTX Japan said its customers could withdraw assets through the website of Liquid Japan, a crypto exchange it bought in February last year. FTX filed for U.S. bankruptcy protection in November. Reporting by Makiko Yamazaki; Editing by Bradley PerrettOur Standards: The Thomson Reuters Trust Principles.
☆ Failed crypto exchange FTX has recovered over $5 bln, attorney says
  + stars: | 2023-01-11 | by ( Dietrich Knauth Tom Hals | Dietrich Knauth | Tom Hals | ) www.reuters.com   time to read: +5 min
The U.S. Commodities Futures Trading Commission has estimated missing customer funds at more than $8 billion. The affiliates -- LedgerX, Embed, FTX Japan and FTX Europe -- are relatively independent from the broader FTX group, and each has its own segregated customer accounts and separate management teams, according to FTX court filings. In part to preserve the value of its businesses, FTX also sought Dorsey's approval to keep secret 9 million FTX customer names. Dorsey allowed the names to remain under wraps for only three months, not six months as FTX wanted. In addition to customer funds lost, the collapse of the company has also likely wiped out equity investors.
☆ Over 100 parties have expressed interest in buying at least one part of FTX, lawyers handling the crypto giant's bankruptcy say
  + stars: | 2023-01-09 | by ( Pete Syme | ) www.businessinsider.com   time to read: +3 min
117 parties have expressed an interest in buying at least one of four FTX businesses up for sale. Court filings said Embed, LedgerX, FTX Europe, and FTX Japan had segregated customer accounts. FTX Europe and FTX Japan are also up for sale, both with around 40 interested parties, the documents show. It also noted that that Embed, LedgerX, and FTX Europe maintained separate computer systems, while FTX Europe and FTX Japan had distinct headquarters. Lawyers handling the bankruptcy case did not immediately respond to Insider's request for comment, sent outside normal working hours.
☆ U.S. Trustee files objection to FTX's planned asset sales
  + stars: | 2023-01-07 | by ( ) www.reuters.com   time to read: +1 min
Trustee filed an objection on Saturday to plans by bankrupt crypto exchange FTX to sell its digital currency futures and clearinghouse LedgerX, as well as units in Japan and Europe, according to a court filing. FTX filed for bankruptcy protection in November and said last month it planned to sell its LedgerX, Embed, FTX Japan and FTX Europe businesses. Trustee Andrew Vara called for an independent investigation before the sale of the units, arguing that the companies may have information related to FTX's bankruptcy. FTX said in a court filing last month that the companies it planned to sell are relatively independent from the broader FTX group, and that each has its own segregated customer accounts and separate management teams. Reporting by Anirudh Saligrama in Bengaluru Editing by Matthew LewisOur Standards: The Thomson Reuters Trust Principles.
☆ FTX Japan to return assets to clients from February
  + stars: | 2022-12-30 | by ( ) www.reuters.com   time to read: 1 min
TOKYO, Dec 30 (Reuters) - The Japanese unit of failed cryptocurrency exchange FTX said on Friday it would return its customer assets from February. FTX Japan is developing a system with which customers can withdraw assets via the website of Liquid Japan, a crypto exchange it bought in February this year. "We deeply apologise for the big trouble caused by the prolonged suspension of services for the withdrawal of legal currency as well as crypto assets," FTX Japan said in a statement. FTX filed for U.S. bankruptcy protection in November and its founder Sam Bankman-Fried resigned as chief executive, after the biggest blowup in the crypto industry drew calls for tighter regulation. Reporting by Junko Fujita; editing by Philippa FletcherOur Standards: The Thomson Reuters Trust Principles.
☆ FTX's Japanese users will be able to start withdrawing funds from February
  + stars: | 2022-12-30 | by ( Ryan Browne | ) www.cnbc.com   time to read: +1 min
Japanese FTX users will be able to start moving their funds out of the collapsed cryptocurrency exchange starting in February, according to a statement from the company's Japan subsidiary. FTX Japan said Thursday it was developing a system to resume withdrawals through the website of Liquid Japan, a crypto exchange it acquired earlier this year. Customers will be able to view their balance on Liquid Japan, and then take out their funds. "We deeply apologize for causing great concern and inconvenience to our customers due to the long-term suspension of the service," the company said in a Japanese language blogpost on its website, which was translated via Google. FTX Japan laid out a timeline for the restoration of customer funds, starting with opening of a Liquid Japan account in mid-January, and then transferring assets from FTX Japan to Liquid Japan and reopening withdrawals by mid-February.
☆ FTX debtors file bidding procedures motion for sale of four businesses
  + stars: | 2022-12-16 | by ( Industry Insight | Saw Law Firms Move Past The Pandemic Into A More Client-Focused Service Environment | Thomson Reuters Institute | ) www.reuters.com   time to read: +1 min
Companies FTX Japan KK FollowDec 16 (Reuters) - FTX and its affiliated debtors said on Friday the company had filed a motion with the Bankruptcy Court seeking approval of bidding procedures to sell four businesses. Debtors of the bankrupt cryptocurrency exchange intend to conduct auctions for Embed, LedgerX, FTX Japan and FTX Europe businesses, according to the statement. The move comes after FTX founder Sam Bankman-Fried was arrested on fraud charges on Monday. FTX filed for bankruptcy protection in Delaware in November after traders pulled $6 billion from the platform in three days and rival exchange Binance abandoned a rescue deal. Reporting by Noor Zainab Hussain and Mehnaz Yasmin in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.
☆ Sam Bankman-Fried's FTX wants to sell some of its last remaining solvent businesses as its restructuring process picks up
  + stars: | 2022-12-16 | by ( Morgan Chittum | ) www.businessinsider.com   time to read: +4 min
FTX wants to sell some of its last functioning business units, according to a court filing. The embattled company has petitioned a federal court for permission to sell several of its subsidiaries, including US derivatives platform LedgerX, as the troubled firm's restructuring process picks up. Company attorneys say it's a "priority" for FTX to "explore sales" and "strategic transactions" of some of its remaining businesses, according to a court filing on Thursday. The filing continued: "The Debtors believe a number of these entities have solvent balance sheets, independent management and valuable franchises." FTX wants to sell these businesses fast, according to the court document, which indicated that some of the entities have had their operating licenses suspended following FTX's collapse.
☆ FTX customers could get their money back in Japan, where the local unit is working on unfreezing withdrawals
  + stars: | 2022-12-02 | by ( Zahra Tayeb | ) www.businessinsider.com   time to read: +3 min
FTX users could get their money back in Japan, where the local unit is working on unfreezing withdrawals. The now-bankrupt crypto exchange faces questions about use of the funds, with $2 billion reportedly missing. FTX Japan said Thursday a plan to restart withdrawals has been approved by its new trading management team, but with added safeguards. "Development work for this plan has already started, and our engineering teams are working to allow FTX Japan users to withdraw their fund," it said in an announcement online. FTX users have been trying to withdraw their funds from the crypto exchange ever since it filed for bankruptcy on November 11.
☆ Collapsed crypto exchange FTX has about $1.24 billion of cash in total — but still owes at least $3.1 billion
  + stars: | 2022-11-22 | by ( Ryan Browne | ) www.cnbc.com   time to read: +1 min
FTX's vast web of entities had a total of around $1.24 billion in cash balances as of Nov. 20, according to a new court filing out late Monday. The filing was penned by Alvarez & Marsal North America, which is advising FTX on restructuring efforts after the exchange filed for bankruptcy protection earlier this month. The balances include FTX and its various "silos," ranging from the trading group Alameda Research to international subsidiaries. FTX's Japanese unit, FTX Japan K.K., has about $171.7 million in cash on its books, making it the third-biggest source of cash for the company. The cash is held by FTX and its affiliates with banks and other financial institutions, Mosley said in the filing.
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