On Monday Japan’s Financial Services Agency (FSA) together with the Ministry of Finance ordered…

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The Russian invasion of Ukraine has brought many problems for the whole world. The US, UK, EU, and other countries have applied measures to curb the Russian economy. After damaging the traditional markets, the Union of different countries is now aiming with sanctions at the Cryptocurrency and NFT markets in Russia. In this bid, Japan’s

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Crypto exchange FTX is acquiring Japan’s Liquid Group and its operating subsidiaries to bolster up its Asia expansion. The acquisition comes less than 48 hours after FTX raised $400 million at a $32 billion valuation in the latest Series C funding round. According to an official press release, the acquisition deal includes Quoine Corporation and its Singapore subsidiary. In 2017, Quoine was one of the first cryptocurrency exchanges to register with Japan’s Financial Services Agency, the country’s top financial regulator. Liquid said the deal with FTX is set to conclude by the end of March 2022 subject to regulatory and shareholder approval. Once the acquisition is completed, Quoine will gradually start integrating FTX’s products and services into its own platform and thereafter serve all of FTX’s Japanese clients. “Following FTX’s acquisition of Liquid, Quoine will gradually integrate FTX’s products and services into its own offering, and FTX’s existing Japanese customers will be migrated to Quoine’s platform,” the announcement release reads. “In connection with this acquisition, FTX has also entered into an agreement with Liquid to provide its existing Japanese users with services in compliance with Japanese laws, and will transfer its existing Japanese users to Quoine.” Liquid-FTX Connections Founded in 2014, Liquid is one of the world’s largest crypto exchanges in daily trading volume, with nearly $72 million, according to CoinMarketCap. The platform offers both spot trading and financial derivatives. FTX is one of the leading centralized crypto exchanges with a daily trading volume above $10 billion across spot and derivatives markets, per CoinGecko. FTX is already familiar with Liquid. In August 2021, when Liquid was hacked for more than $90 million, FTX came to its rescue and provided $120 million in debt financing to help cover its losses.

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