FTX Japan Initiates Extensive Hiring Drive
Despite facing significant financial challenges, FTX Japan is determined to relaunch its operations and has initiated an extensive hiring campaign as part of its FTX 2.0 initiative.
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The exchange aims to attract top talent to explore cutting-edge technologies like artificial intelligence (AI) and develop innovative crypto tools, non-custodial CEX trading, Proof of Solvency, and leading crypto derivatives products.
FTX Japan’s relaunch plans are driven by CEO John Ray’s leadership and a vision to revamp the exchange by the second quarter of 2024. While the company has been dealing with debts owed to creditors and dissatisfied customers, it remains committed to reopening and resolving outstanding issues.
Unlike other entities within the FTX group that faced a liquidity crisis and sought bankruptcy protection, FTX Japan has shown resilience and managed to navigate plans for reopening customer withdrawals. Furthermore, FTX Japan’s customer asset return process, initiated in February, has been proceeding smoothly, resulting in the return of approximately 80% of customers’ fiat currency, including Japanese yen, and virtual currency.
However, legal proceedings and customer disputes pose potential challenges that could impact the timeline for reopening.
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