FTX EU LTD has launched a website on which its customers can request final balances and withdrawals.
The withdrawals will be available only to customers who opened their accounts through FTX.com/eu after March 7, 2022. This process does not apply to customers of any other FTX group businesses, FTX said in a Friday (March 31) press release.
The withdrawals will be made from fiat currency funds remaining in segregated accounts of FTX EU LTD, will follow the completion of the process of submitting requests through the new website and will be subject to the sufficiency of funds, the release said.
“Any withdrawal requests will be subject to customary know-your-customer and anti-money-laundering checks, and a customer’s withdrawal may be delayed if bank or other account details have not been sufficiently verified,” FTX said in the release. “Each customer of FTX EU LTD is also being informed via email to such customer’s email address as reflected in customer records.”
In other related news, as PYMNTS reported March 23, John J. Ray III and his team successfully added more than $500,000 to the asset pool for FTX creditors in a 48-hour period.
That total included Modulo Capital’s agreement to return $404 million in cash that FTX and Alameda staked its hedge fund operations with, Modulo’s agreement to also release its own claim to $56 million in assets still locked up on the dormant FTX’s crypto exchange, and FTX’s proposed deal to sell its stake in Mysten Labs back to the startup’s founders for $95 million.
Two days earlier, it was reported that FTX is suing the Bahamian joint provisional liquidators (JPL) overseeing the wind-down of FTX Digital Markets (FTX DM), the company’s island-based arm, seeking to strip the on-island regulators from any claim over FTX assets.
Under dispute are hundreds of millions of dollars’ worth of real estate, among other rights and assets.
“The JPLs inherited the corporate shell that Mr. Bankman-Fried and his co-conspirators built to harbor their fraudulent enterprise in The Bahamas and now use it to continue the jurisdictional battle,” a court filing stated. “In doing so, they continue to cast confusion over the true ownership of the Debtors’ property and waste the Debtors’ assets in the process.”
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