BitFlyer to Acquire FTX Japan

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According to reports from Japan’s public broadcasting service, BitFlyer, a Japanese crypto exchange, may soon acquire FTX Japan.

BitFlyer is expected to pay several billion yen to obtain all of FTX Japan’s shares, effectively giving it control over the company.

The plan is for BitFlyer to relaunch FTX Japan as a digital asset management or custody firm for institutional investors.

FTX Japan was originally launched in 2022, but its parent company later declared bankruptcy. As part of the bankruptcy proceedings, FTX has been trying to sell off its four independently operated subsidiaries, including FTX Japan.

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