Japanese crypto exchange bitFlyer has entered into an agreement to acquire the local division of the collapsed platform FTX.
【FTX Japan 買収合意について】
bitFlyer Holdings は FTX Japan の株式100％を取得する株式譲渡契約を締結しました。
bitFlyer Holdings の完全子会社となります。
展開してまいります。https://t.co/qnaGy7u2Q3 pic.twitter.com/NI9w7YwFss— bitFlyer（ビットフライヤー） (@bitFlyer) June 20, 2024
According to the company, it intends to develop new services that “will take advantage of the synergies between the Group’s divisions.”
According to Nikkei, the deal is worth “in the billions of yen.” After its closure, the former FTX Japan will switch to interaction with institutional players in the crypto market.
In February 2022, FTX absorbed the Japanese crypto exchange and related entities. Over the summer, Sam Bankman-Fried’s company announced the launch of a local branch, renaming Liquid FTX Japan KK
In November, the unit suspended withdrawals after FTX Group filed for Chapter 11 bankruptcy. Five days later, the platform stopped trading operations.
In February 2023, FTX Japan set a date for resuming withdrawals.
In May 2023, the New York State Department of Financial Services fined bitFlyer USA $1.2 million for failing to comply with state cybersecurity requirements.
Source: Cryptocurrency
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