FTX completed the acquisition of Japanese crypto exchange Liquid on April 4, a few days after the deal had been scheduled to close, according to an email to Liquid shareholders from CEO Mike Kayamori that was obtained by CoinDesk.
- Instead, Kayamori wrote in the letter sent Sunday from the Bahamas, where crypto exchange FTX is based and where it co-hosted last week’s Crypto Bahamas conference, that the acquisition closed on April 4.
- Kayamori had to wait until the beginning of May to thank shareholders for their support, he wrote, because some of them hadn't received their consideration.
- “There were some human errors,” Kayamori explained, but the delay “shows that the existing international wire transfer [system] is fundamentally broken and crypto (stablecoins) can solve this problem.”
- Kayamori’s email says that Liquid’s operations will be renamed FTX Japan and FTX Singapore once the company obtains a license from the Monetary Authority of Singapore.
- FTX, which extended Liquid a $120 million loan in the wake of the hack before agreeing to buy the exchange outright, hasn't disclosed how it much paid to purchase Liquid.
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