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Interview

FTX Japan executive sees user funds safe from parent's bankruptcy

Returning customer assets is 'top priority,' Seth Melamed says

FTX Japan Chief Operations Officer Seth Melamed speaks with Nikkei on Nov. 22. (Photo by Yutaka Miyaguchi)

TOKYO -- User assets at the Japanese arm of FTX Trading have stayed safely apart from the rest of the collapsing cryptocurrency exchange group, and "we're working toward returning them as our top priority," FTX Japan Chief Operations Officer Seth Melamed told Nikkei on Tuesday.

Withdrawals at FTX Japan remain halted amid the turmoil engulfing Bahamas-based parent FTX Trading, which is undergoing Chapter 11 bankruptcy proceedings in the U.S. The Japanese company has roughly 19 billion yen ($134 million) in user assets, including dormant accounts.

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