FTX owns ID crypto exchange Bitocto, court document shows

Bitocto, an Indonesia-based peer-to-peer crypto marketplace, is among a handful of regulated crypto exchanges majorly owned by FTX, the beleaguered crypto firm’s bankruptcy trial presentation document revealed.

FTX classifies four silos for recovery purposes, with Bitocto under the Dotcom silo alongside FTX’s Japan unit Liquid, Europe unit Digital Assets AG, and FTX US Derivatives (formerly LedgerX). Other businesses are grouped under Ventures silo, Alameda silo, and WRS silo.

Separately, data from the Indonesian Ministry of Law and Human Rights showed that 99% of Bitocto shares are owned by FTX, while the remaining 1% is owned by Genesis Block, a Hong Kong-based crypto platform that is reportedly ceasing its operations due to the repercussions of the FTX collapse, reported BeInCrypto.

Bitocto is one of 25 official crypto trading platforms under the Commodity Futures Trading Regulatory Agency (Bappebti), Indonesia’s crypto regulator.

The agency’s head of market development, Tirta Karma Senjaya, told BeInCrypto that customer funds and assets at Bitocto are safe because the company’s system is not integrated with FTX.

FTX’s first hearing on Tuesday unfolded the latest developments of the crypto firm’s fallout, including its finances where it’s revealed that a “substantial amount” of customer assets is still missing.

See also: Indonesia’s crypto exchanges face fuzzy future amid new regulations