FTX EU launches withdrawal web site to pay again European customers

The European arm of FTX, FTX EU has launched an internet site to permit European clients to submit withdrawal requests.

It comes almost 5 months after the worldwide trading platform collapsed and went bankrupt in early November.

The brand new web site area identify — https://ftxeurope.eu/ — was reportedly accredited by the Cyprus Securities and Trade Fee based on a report in Finance Magnates.

The brand new area is not going to supply any services or products aside from to pay again impacted clients, the report stated, referencing an e mail obtained by FTX Europe.

“Please learn that our new area, www.ftxeurope.eu, has been accredited by our regulator CySEC as you’ve gotten properly recognized. The web site will solely be used for all FTX EU LTD purchasers to have the ability to declare their FIAT balances. There will likely be no companies or merchandise supplied through this web site.”

Whereas FTX EU was made accessible to customers within the Europe Financial Space and Center East, it’s not clear what number of customers have been impacted.

FTX EU only became available in March 2022 and the worldwide enterprise collapsed in November, so numbers will not be anticipated to be massive.

FTX EU, a solvent entity, is now paying out its clients on https://t.co/MEw8Oz8vTk.

Notice: Virtually none of FTX’s EU residents are FTX EU customers, as a result of for some motive, FTX EU solely onboarded clients registered from March 2022. pic.twitter.com/gu56Vysvlc

— FTX 2.0pium (FTX Creditor) (@AFTXcreditor) March 30, 2023

FTX Japan is one other subsidiary that has already made amends to impacted clients. In late February, it allowed a total withdrawal of funds, which amounted to about $50 million.

Associated: FTX customers want more info on FTX’s plans to sell subsidiaries

The Cyprus regulator requested FTX EU to suspend its operations on Nov 9, shortly earlier than FTX Group and its 130 affiliated corporations (together with FTX EU) formally filed for bankruptcy on Nov 11.

FTX Europe was headquartered in Switzerland for the comparatively brief period that it operated.

Journal: Can you trust crypto exchanges after the collapse of FTX?