Claim BonusJust-In: Financial Giant Linked With Galaxy Digital Plans To Buy FTX Japan
Japanese financial services company Monex Group plans to buy FTX Japan, the Japanese subsidiary of Sam Bankman-Fried’s beleaguered crypto exchange FTX. The move comes after the bankruptcy court approved the sale of FTX subsidiaries, including FTX Japan and FTX Europe last week.
Monex Group To Buy FTX Japan
Monex Group Inc. expressed interest in buying FTX’s Japanese subsidiary FTX Japan, reported Bloomberg on January 16. The financial services firm has shareholders including Michael Novogratz’s Galaxy Digital, Oasis Management, Nomura Asset Management, Invesco, and The Vanguard Group.
During an interview, Monex Group CEO Oki Matsumoto revealed that the company is interested in buying FTX Japan. He said it is always a “very good thing” if the number of crypto exchanges competing against his crypto exchange Coincheck declines. However, he didn’t disclose if Monex is bidding for FTX’s Japanese subsidiary.
FTX received court approval to sell its Japanese and European subsidiaries, as well as other businesses, to return money to its creditors. According to a court filing, 41 parties have expressed interest in FTX Japan, with 25 entering confidential agreements with debtors.
As Japan continues to ease crypto regulations, Japan’s crypto market could grow massively with an increase in adoption. Moreover, companies may start to buy digital coins as investments and use non-fungible tokens for marketing.
Monex has been expanding globally and into new areas of business. It also owns Coincheck, Japan’s one of the top crypto exchanges, which is preparing to list on the Nasdaq Exchange.
FTX Japan Plans To Return Customer Funds
Meanwhile, FTX Japan had around $139 million in cash and deposits as of November 21. The exchange plans to return customer funds in February with the help of affiliated exchange Liquid Japan.
Customers will be able to withdraw their crypto assets from Liquid Japan after opening a new account. However, withdrawal may face delays due to a security audit, incorporating controls, reconciliation, and reviews.
Also Read: Shibarium Beta Is About To Be Launched, Confirms Shiba Inu Team
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Veteran Trader Peter Brandt Predicts Bitcoin Price Rebound, Gold Fall to $4000
- Peter Thiel Exits ETHZilla as Stock Slides 3% Amid Token Launch
- Bitwise, Granitshares Eyes $63B Sector With New Prediction Markets ETF Filing
- Breaking: Grayscale Sui Staking ETF to Start Trading on NYSE Arca Today
- Prediction Market Lawsuit: Nevada Targets Kalshi in Court After Action Against Polymarket
- Will Sui Price Rally Ahead of Grayscale’s $GSUI ETF Launch Tomorrow?
- How Long Will Pi Network Price Rally Continue?
- Pi Network Price Beats Bitcoin, Ethereum, XRP as Upgrades and Potential CEX Listing Fuels Demand
- 5 Things Dogecoin Price Needs to Hit $0.20 in Feb 2026
- Bitcoin Price Prediction as Experts Warns of Quantum Risks
- Dogecoin, Shiba Inu, Pepe Coin Price Predictions As BTC Crashes Below $68k
