Monex Group expresses interest in bidding for upcoming FTX Japan sale: Bloomberg

[ad_1]

Tokyo-based online brokerage Monex Group Inc. has indicated it may join the bidding for Japanese subsidiary of collapsed FTX cryptocurrency exchange Sam Bankman-Frieds, Bloomberg reported. Monday.

See Related Article: Bankrupt FTX Exchange Recovered $5 Billion in Liquid Assets, Lawyers Say

Fast facts

Generally speaking, we are naturally interested, Oki Matsumoto, CEO of Monex Groups, told Bloomberg in response to a question about the upcoming sale of the Japan FTX unit.

The CEO did not say that Monex would make a bid for FTX Japan, but said that it would be a very good thing to reduce the number of crypto exchanges competing with Monex.

Last Friday, the U.S. bankruptcy court in Delaware cleared FTX to sell assets to pay off creditors, including FTX Japan Holdings, FTX Europe, equity trading platform Embed Financial Technologies, and crypto derivatives exchange LedgerX.

According to court filings, parties interested in acquiring FTX Japan must submit a preliminary non-binding offer by February 1. The final deadline for the FTX Japan tender is March 15.

Tokyo-listed Monex Group bought local crypto exchange Coincheck Inc. in 2018, after the exchange suffered a US$500 million hack earlier that year.

FTX Japan announced last month that it was working to allow its users to withdraw assets in February via Liquid, the Japanese crypto exchange FTX acquired last year and turned into its subsidiary.

See related article: Alameda liquidators liquidated while consolidating funds on DeFi lending platform Aave

[ad_2]