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Tokyo-based online brokerage Monex Group Inc. has indicated it may join the bidding for the Japanese branch of Sam Bankman-Fried’s collapsed FTX cryptocurrency exchange, reports Bloomberg Monday.

See related article: Bankrupt FTX exchange recovered $5 billion in ‘liquid’ assets, lawyers say

Fast facts

  • “Generally speaking, we are naturally interested,” Oki Matsumoto, CEO of Monex Group. told Bloomberg in response to a question about the upcoming sale of the Japan FTX unit.

  • The CEO did not say Monex would bid for FTX Japan, but said it would be a “really good thing” to reduce the number of crypto exchanges competing with Monex.

  • Last Friday, the U.S. bankruptcy court in Delaware cleared FTX to sell assets to pay off creditors, including FTX Japan Holdings, FTX Europe, equity trading platform Embed Financial Technologies, and crypto derivatives exchange LedgerX.

  • According to court documentsparties interested in acquiring FTX Japan must submit a non-binding preliminary offer by February 1. The final deadline for the FTX Japan tender is March 15.

  • Tokyo-listed Monex Group bought local crypto exchange Coincheck Inc. in 2018, after the exchange suffered a US$500 million hack earlier that year.

  • FTX Japan announcement last month that it is working to allow its users to withdraw assets in February via Liquid, the Japanese crypto exchange FTX acquired last year and became its subsidiary.

See related article: Alameda liquidators liquidated while consolidating funds on DeFi lending platform Aave



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