FTX Japan, a Japanese crypto derivatives exchange under FTX, disclosed customer asset management on its official website early this morning. The 14 cryptocurrencies it supports are deposited in the company’s cold wallet, and the balance of cryptocurrencies stored in the cold wallet is greater than the balance of funds deposited by customers on the platform.
In addition, the balance of fiat currencies (JPY and USD) held by the company exceeds the fiat assets deposited by customers, with a balance of approximately JPY 278 million (approximately USD 2 million).
FTX Japan also announced the status of its own assets, stating that the company has net assets of approximately 10 billion yen (approximately $71.86 million as of September 2022) and approximately 19.6 billion yen in cash and deposits (as of November 10, 2022, approximately $141 million).
Earlier on November 10, the Financial Services Agency of Japan ordered FTX Japan to cease operations by December 9 and required it to disclose customer asset protection information by November 16.
