FTX launches customer balance withdrawal website

It’s been almost five months since the devastating collapse of the FTX crypto exchange, but the effect is still felt in the crypto community. Millions of users worldwide still have their funds stuck on the defunct exchange, but there are now signs that the light could be at the end of the tunnel. 

This week, FTX Europe, the European subsidiary of the bankrupt crypto firm, created a new website for its customers to withdraw their balance from the platform. Hopefully, their African counterparts get the same treatment subsequently.

Here are major crypto stories from around the world this week. 

MetaMask warns users against fake airdrop rumours 

Web3 wallet provider MetaMask has warned its users of “false rumors” of a purported MetaMask airdrop that is supposed to come up today, which appears to have been making the rounds on social media.

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In a tweet on Tuesday, MetaMask warned that: “There have been quite a few rumours going around” of a MetaMask snapshot or airdrop on March 31. These rumours are not only false, but they are dangerous. They create opportunities for scammers and phishers.”

MetaMask denied the rumours and urged users to stay vigilant for fake sites in the coming days.

FTX launches website 

FTX Europe has created a new website for customers to withdraw their balance from the platform. https://ftxeurope.eu/,, the new domain name, was approved by the Cyprus Securities and Exchange Commission (CySE).

According to reports, the new domain will offer no products or other services apart from balance withdrawal. According to a conversation between FTX Europe and Finance Magnates:

“Please be informed that our new domain, www.ftxeurope.eu, has been approved by our regulator CySEC as you have well identified. The website will only be used for all FTX EU LTD clients to be able to claim their FIAT balances. There will be no services or products offered via this website,”

United Kingdom’s robust crypto regulation 

The government of the United Kingdom has laid out plans to step up the regulation of crypto assets in its efforts to respond to economic crime in the country. In a policy paper released on Thursday, the UK Treasury and Home Office said it planned to “robustly” regulate crypto to fight the illicit use of digital assets. 

“These steps will be in keeping with our ambition to make the U.K. an attractive destination for cryptoassets and cryptoasset innovation in the world,” said the plan. “Challenging as it is, effective cryptoasset regulation benefits everyone, including consumers and firms.”

UK Financial Conduct Authority (FCA), one of the bodies behind the enforcement of crypto asset regulation, will be working with its international counterparts to exchange information related to its response to the regulation and supervision of crypto. 

SBF pleads not guilty 

Lawyers for former FTX CEO Sam Bankman-Fried have entered a not-guilty plea for five additional charges since his December 2022 arraignment, including bribery allegations. 

According to multiple reports on Thursday, SBF pleaded not guilty in United States District Court for the Southern District of New York to four charges added as part of a superseding indictment in February, and one charge added on Tuesday related to him allegedly bribing a Chinese government official. Other charges include conspiracy counts related to fraud and those for wire fraud and securities fraud during his time at FTX.

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Mark Cohen, the attorney representing Bankman-Fried in the criminal case, reportedly argued that though SBF had entered a not-guilty plea, there was no acknowledgement that the court had the authority to bring the charges against him. The latest charge alleged that SBF was transferring “at least approximately $40 million in cryptocurrency intended for the benefit of one or more Chinese government officials” to facilitate transactions tied to Alameda Research.

Russia postpones CBDC launch 

Russia has postponed the launch of its Central Bank Digital Currency, the digital ruble, which was scheduled for April 1. Reports say that Russia will proceed with the launch of the pilot project only after adopting the regulatory frameworks, probably in early May. 

On Tuesday, the Russian news agency TASS reported that the country’s CBDC wouldn’t be launched in April 2023 as announced earlier but would be delayed to the end of the month or the beginning of May.

It was added that though the launch is procrastinated, the Russian banks are willing to proceed with the experiments with the digital ruble transactions and activities.

That’s all from us this week, see you same time next week.