FTX’s European Arm to Resume Withdrawals for Users With New Website Launch
FTX investors continue to reel under uncertainty as the fate of the assets stored in the bankrupt platform hangs in limbo.
In a brief respite, however, European customers will now be able to withdraw assets. FTX EU – the crypto exchange’s European division – has launched a new website enabling its users to submit withdrawal requests for their funds from the platform.
- A new report suggests that the Cyprus Securities and Exchange Commission (CySE) approved the new domain name – https://ftxeurope.eu/ – which will only function for balance withdrawal. No products and services will be offered via the newly launched website.
FTX EU, a solvent entity, is now paying out its customers on https://t.co/MEw8Oz8vTk.
Note: Almost none of FTX’s EU citizens are FTX EU users, because for some reason, FTX EU only onboarded customers registered from March 2022. pic.twitter.com/gu56Vysvlc
— FTX 2.0pium (FTX Creditor) (@AFTXcreditor) March 30, 2023
- FTX Europe was quoted saying,
“Please be informed that our new domain, www.ftxeurope.eu, has been approved by our regulator CySEC as you have well identified. The website will only be used for all FTX EU LTD clients to be able to claim their FIAT balances. There will be no services or products offered via this website.”
- FTX EU is a relatively new venture that was launched in March 2022, nearly seven months before the SBF-led FTX Group and its 130 affiliated companies (including FTX EU) officially filed for bankruptcy.
- The platform was tasked with offering company products to European clients via a licensed investment firm across the European economic area. It was headquartered in Switzerland.
- The Cyprus watchdogs ordered the division to terminate operations on November 9th, two days before the fateful event.
- Considering the firm operated for only a brief period, the number of users affected by the fallout is expected to be significantly lower than in other countries.
- FTX Japan was another subsidiary that recently announced resuming the withdrawal function for customers.
- While the new domain has been authorized, the www.ftx.com/eu website continues to be unresponsive.
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OhNoRipple via https://www.ohnocrypto.com/ @Chayanika Deka, @Khareem Sudlow
