- European consumers have a window of opportunity to withdraw funds.
- FTX EU has created a website where customers may request to retrieve their funds.
Investors in FTX are still reeling from the platform’s bankruptcy and the ensuing uncertainty about the future of their assets on the platform. Nonetheless, for the time being, European consumers have a window of opportunity to withdraw funds.
The European branch of the cryptocurrency exchange, known as FTX EU, has created a website where customers may request to retrieve their funds.
New Domain Approved by CySEC
A recent report claims that a new domain name, which may only be used to withdraw funds, has been granted by the Cyprus Securities and Exchange Commission (CySEC). The newly created website will not include any product offerings.
According to FTX Europe:
“Please be informed that our new domain, www.ftxeurope.eu, has been approved by our regulator CySEC as you have well identified. The website will only be used for all FTX EU LTD clients to be able to claim their FIAT balances. There will be no services or products offered via this website.”
Established in March 2022, FTX EU is a newer business than the SBF-led FTX Group and its 130 member firms (of which FTX EU is a part).
The platform was entrusted with selling the company’s goods to customers in the European Economic Area via a registered investment business. Switzerland was the location of its headquarters. On November 9th, only two days before the tragedy, Cyprus regulators ordered the division to shut down.
As the company was only active for a short time, fewer people are likely to be impacted by the closure than in other nations. Another FTX affiliate, FTX Japan, has only lately announced the restoration of its withdrawal service.
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