FTX EU, the European arm of FTX, has launched a website that allows European clients to submit withdrawal requests. It comes nearly five months after the global trading platform crashed and went bankrupt in early November.
According to a report by Finance Magnates, the new website domain has reportedly been approved by the Cyprus Securities and Exchange Commission. Citing an email received by FTX Europe, the report said the new domain would not offer any products or services other than reimbursement to affected customers.
“Please note that our new domain has been approved by our regulator, CySEC, as you are aware. This website will only be available to all FTX EU LTD clients to be able to claim their fiat currency balances. This site does not provide any services or products." While FTX EU is available to users in the European Economic Area and the Middle East, it's unclear how many users were affected. FTX EU will only be available in March 2022, with the global enterprise crashing in November, so volumes are not expected to be large.
FTX Japan is another subsidiary that has already compensated affected customers. In late February, it allowed withdrawals totaling about $50 million. FTX Group and its 130 affiliates, including FTX EU, formally filed for bankruptcy on Nov. 11, following Cypriot regulators’ order to suspend operations in FTX EU on Nov. 9.
FTX Europe is based in Switzerland and operates for a relatively short period of time.
