The legal battle between FTX and Sam Bankman-Fried (SBF) continues, leaving FTX clients around the world unsure about the future of the exchange. In the midst of this, FTX subsidiary Liquid Group, a Japanese crypto trading platform, had to halt withdrawals on November 15, 2022. This was due to Changpeng Zhao, the CEO of Binance, announcing the liquidation of his holdings. substantial in FTX. Token (FTT), which caused a domino effect and caused the slowdown in withdrawals of funds by FTX and its subsidiaries.

FTX Japan users have had to endure the frustration of not being able to access their funds for months. However, on February 21, 2023, FTX Japan resumed withdrawals, which involved moving the funds from the defunct exchange to a Liquid Japan account. This news came as a relief to many investors, and was soon followed by reports that a popular cryptocurrency trader from Japan, Hibiki Trader, had successfully withdrawn all funds from him.

The withdrawal of funds by FTX Japan users is not surprising, considering the uncertainty surrounding the legal battle between FTX and SBF. FTX is a well-known cryptocurrency exchange, and any negative news can affect user confidence. Additionally, the slowdown in fund withdrawals caused by Binance’s liquidation of FTT holdings had a ripple effect on FTX and its subsidiaries, resulting in delayed access to funds for many clients.

It is important to note that the legal battle between FTX and SBF is not related to the slowdown in withdrawals or the liquidation of FTT holdings by Binance. The litigation is a separate issue that has been ongoing for some time, and its resolution is still unclear. FTX clients around the world are eagerly awaiting the conclusion of the legal battle, which will hopefully bring some clarity and stability to the exchange.

In conclusion, the withdrawal of funds by users of FTX Japan is a reflection of the impact of negative news and uncertainty in the cryptocurrency market. The legal battle between FTX and SBF and Binance’s liquidation of FTT holdings have added to the existing market volatility and resulted in delayed access to funds for many FTX clients. It remains to be seen how the legal battle will be resolved and what the future holds for FTX and its clients.