🚀 Big news, crypto enthusiasts! Japan's heavyweight crypto exchange, BitFlyer, is reportedly on the verge of acquiring FTX Japan, the local arm of the bankrupt FTX. 💼

🔑 BitFlyer is set to take over all FTX Japan shares and business operations. Post-acquisition, FTX Japan is expected to shift focus to crypto asset management or custody, targeting institutional investors.

📈 FTX Japan, launched in June 2022, was hit by bankruptcy five months later. Despite the setback, it resumed withdrawals in late February, processing user requests via local crypto exchange Liquid.

🎯 BitFlyer seems to be the front-runner among 41 global parties interested in the acquisition. However, FTX's proposed reorganization plan has been rejected by creditors for not meeting certain Bankruptcy Code requirements.

📢 What are your thoughts on this deal? Will it be a game-changer for BitFlyer? Let's chat in the comments! #DeFi #CryptoNews