 | TOKYO -- When FTX Trading filed for bankruptcy protection in the U.S., one question that popped up was what would happen to user assets held by the cryptocurrency exchange's Japanese unit.
Although withdrawals at FTX Japan remain halted, Japanese assets are not expected to be touched in the effort to repay FTX creditors in the Chapter 11 process, said Seth Melamed, the unit's chief operations officer.
Melamed told Nikkei that no funds are being managed overseas and that the wallet that manages users' crypto assets, which is not connected to the internet, is under FTX Japan's control. "We're working toward returning them as our top priority," he said.
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