FTX investors are currently facing uncertainty over the fate of their assets stored in the bankrupt platform. However, there is some good news for European customers as FTX EU, the crypto exchange’s European division, has launched a new website that allows users to submit withdrawal requests for their funds from the platform.
- According to a new report, the Cyprus Securities and Exchange Commission (CySE) has approved the new domain name, www.ftxeurope.eu, which will only function for balance withdrawal. No products or services will be offered via the newly launched website.
FTX EU, a solvent entity, is now paying out its customers on
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
“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 new venture that was launched in March 2022, nearly seven months prior to the SBF-led FTX Group and its 130 affiliated companies (including FTX EU) officially filing for bankruptcy.
- The platform was established to offer company products to European clients via a licensed investment firm across the European economic area and was headquartered in Switzerland.
- The Cyprus watchdogs ordered the division to terminate operations on November 9th, two days before the platform’s bankruptcy event.
- Considering the firm only operated for a brief period, the number of users impacted by the fallout is expected to be significantly lower than in other countries.
- FTX Japan is another subsidiary that recently announced the resumption of the withdrawal function for its customers.
- While the new domain has been authorized, the www.ftx.com/eu website continues to be unresponsive.