Regulatory enforcement determines whether funds can be withdrawn? Users from the United States, Japan, and the Bahamas have started to withdraw their funds.

FTX has suspended withdrawals for several days, and Binance, after refusing the acquisition, claimed to be working on a self-rescue plan and is in negotiations with various parties. However, during this period, FTX.US and FTX Japan have successively resumed withdrawals, and FTX has even disregarded public opinion by enabling withdrawals for Bahamian users, could the impact of the FTX incident have been mitigated if there was an FTX.TW exchange from the beginning?

Bahamas – Withdrawals Commence on 11/11 Early Morning

According to the official FTX Twitter and previous reports:

“In accordance with Bahamian regulatory requirements, we have commenced assisting with withdrawals in the Bahamas, so you may see FTX processing withdrawals recently, as we are complying with regulatory requirements.

The total amount of withdrawals represents only a small portion of our held assets, and we are actively exploring other channels to provide withdrawal services for our other users, as well as actively investigating what we can and should do in various countries around the world.”

Moreover, due to the Bahamas' withdrawal channel being connected to the FTX main site, there are Bahamian accounts selling NFTs on the platform, allowing funds to be transferred to other users for withdrawal assistance.

Currently, FTX has suspended NFT deposits and minting functions.

FTX.US – Normal Withdrawals

As FTX US operates independently from FTX, CEO SBF emphasized in a recent statement that FTX.US withdrawals are unaffected.

However, complaints about withdrawal delays can be found on FTX's Twitter, and the official website displays a banner indicating impending trading halts.

FTX Japan – Withdrawals Commence on 11/11 Noon

Similarly, FTX officials stated compliance with guidance from the Japanese Financial Services Agency JFSA, setting only FTX.JP to a closed mode, pausing trading, and emphasizing that FTX Japan is an independent entity that strictly adheres to Japanese asset segregation regulations.

According to FTX Japan's Twitter, the official announcement stated that withdrawals via the app and API would be available on 11/11, with website withdrawals restored by 1:00 pm.