Japanese exchange BitFlyer intends to acquire FTX Japan! FTT fell slightly after rising slightly

Since its collapse in November 2022, the restructuring team of bankrupt cryptocurrency exchange FTX has continued to raise funds to repay creditor assets, including the sale of FTX Japan, FTX Europe, derivatives platform LedgerX, and stock trading Services company Embed and other subsidiaries.

Japanese exchange BitFlyer intends to acquire FTX Japan

Just today (21st), according to Japanese media "NHK" citing sources, Japan's local cryptocurrency exchange BitFlyer is planning to acquire FTX Japan with a budget worth billions of yen. It plans to acquire all shares of FTX Japan to gain full control of the company and re-establish FTX Japan as a digital asset management or custody company for institutional investors.

However, BitFlyer has not yet made an official statement on the matter, and it is unknown whether there are other bidders. But as FTX subsidiaries are sold off one by one, the cryptocurrency brand FTX may disappear forever, truly becoming the tears of the times.

Since the bankruptcy of FTX Tradin, FTXJapan has suspended all services, but due to asset separation, it has repaid user crypto assets as early as last year.

FTT rose slightly and then fell back

Although BitFlyer will most likely change its brand name after the acquisition, and will not empower FTX’s original platform currency FTT, the token is currently a bit Meme-like, and the reasons for its rise and fall are not clear. Can predict.

After the news of the planned acquisition was exposed, FTT rose slightly by 1.1% within 1 hour, but soon gave up the gains and is now trading at $1.52 at the time of writing.

FTX creditors are dissatisfied with cash compensation

Although FTX actively raised funds and proposed a compensation plan to investors, it caused dissatisfaction among creditors because it wanted to use cash payment instead of cryptocurrency.

In this context, FTX victims submitted documents to the U.S. District Court for the Southern District of New York on June 14, claiming that the assets frozen by FTX (approximately US$8 billion) belonged to its customers, not bankruptcy assets, and requested the court to make a ruling. Documents show that FTX filed for bankruptcy during the cryptocurrency bear market, when cryptocurrency prices fell sharply, and it was extremely unfair to measure the value of customer claims based on the price at that time: since the bankruptcy filing date, the price of Solana (SOL) has increased ninefold, and Bitcoin The price has also increased fourfold.

Adam Moskowitz and David Boies, attorneys for FTX victims, said in the filing that many view the bankruptcy process as a second theft: The bankruptcy process has left FTX customers feeling "deprived and cheated," many of whom view the bankruptcy process as a second theft. For "the second theft"

The above is the detailed content of Japanese exchange BitFlyer intends to acquire FTX Japan! FTT fell slightly after rising slightly. For more information, please follow other related articles on the PHP Chinese website!