FTX EU Launches Website for Customer Withdrawal Requests, Five Months after Platform Collapse
FTX EU, the European arm of the global trading platform, has launched a website to allow European customers to submit withdrawal requests nearly five months after the platform's collapse and bankruptcy in early November 2022. The new website domain name was approved by the Cyprus Securities and Exchange Commission, and it will not offer any products or services other than paying back impacted customers. FTX EU only became available in March 2022, and the global enterprise collapsed in November, so numbers are not expected to be large.
Key Takeaways:
FTX EU has launched a website for European customers to submit withdrawal requests.
The new website will not offer any products or services other than paying back impacted customers.
FTX EU only became available in March 2022, and the global enterprise collapsed in November, so numbers are not expected to be large.
The launch of the website marks a significant step in the company's efforts to repay its customers.
The collapse of FTX Group and its subsidiaries has raised concerns about the regulation of global trading platforms.
The Cyprus regulator requested FTX EU to suspend its operations on November 9, shortly before FTX Group and its 130 affiliated companies (including FTX EU) officially filed for bankruptcy on November 11. FTX EU's launch of the website marks a significant step in the company's efforts to repay its customers. The collapse of FTX Group and its subsidiaries has raised concerns about the regulation of global trading platforms. It remains to be seen what steps regulators will take to prevent similar incidents from occurring in the future.
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