Crypto derivatives exchange FTX has just announced the acquisition of Japanese crypto exchange Liquid as well as its subsidiaries.
The deal, whose amount has not been disclosed, is expected to close in March this year.
Notably, Liquid reached a valuation of $1 billion in 2019.
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The deal includes Singaporean Quoine Corporation and Quoine Pte. Quoine was one of the first to receive Japanese licenses from the FSA back in 2017.
Quoine will integrate FTX products and services into its own platform, and existing FTX customers in Japan will migrate to Quoine.
In August 2021 Liquid suffered a hack of its hot wallets. Later, the hacker sent $20 million of the stolen $97 million in digital assets to the crypto mixer Tornado Cash.
A week after the incident, Liquid raised $120 million in a loan from the FTX platform operator.