To enable consumers in Europe to make withdrawal requests, FTX EU, the company’s European division, has developed a website.
It occurs almost five months to the day after the global trading platform’s bankruptcy and collapse in early November.
The report made reference to an email that FTX Europe received and stated that the new domain would only provide compensation to clients who had been negatively affected. Although FTX EU was made accessible to consumers in the Middle East and the Europe Economic Area, it is unclear how many users were affected.
Numbers are not anticipated to be high because FTX EU only became available in March 2022 and the global enterprise failed in November. Another subsidiary that has already made reparations to affected clients is FTX Japan. It permitted a total withdrawal of funds in late February that came to around $50 million.
On November 9, just before FTX Group and its 130 related firms (including FTX EU) formally filed for bankruptcy on November 11, the Cyprus regulator asked FTX EU to halt operations. For the brief time that it was in operation, FTX Europe’s headquarters were in Switzerland.
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