FTX recovers over $5B in cash and liquid crypto
Previous reports suggested that FTX saw losses peak at nearly $9 billion in total liabilities. 888 Total views 11 Total shares Listen to article 0:00 Breaking news Own this piece of history
Collect this article as an NFT According to FTX attorney Andy Dietderich, the troubled cryptocurrency exchange has “recovered $5 billion in cash and liquid cryptocurrencies.” However, the exchange is still “working to rebuild transaction history,” and the total amount of customer shortfall is “still unclear.” Speaking to a U.S. bankruptcy judge in Delaware on Wednesday, Dietderich also stated that the company plans to sell $4.6 billion worth of non-strategic investment.
Cointelegraph previously reported that FTX has $8.8 billion in total liabilities. At the time, sources said the exchange had very little in cash and liquid digital assets, amounting to an estimated $8 billion hole in its balance sheet.Cast your vote now!
Sam Bankman-Fried, the disgraced founder of FTX, has pled not guilty to all criminal charges related to the exchange’s fallout. The United States Attorneys Office for the Southern District of New York has formed anFTX Task Force to trace and recover missing customer funds and handle investigations and prosecutions related to the exchanges collapse.
This is a breaking news story and will be updated accordingly #Blockchain #Business #FTX Related News What is total value locked (TVL) in crypto and why does it matter? Auros Global expects to resume regular operations following restructuring plan US Department of Justice probing $372M FTX exploit: Report FTXs Liquid exchange hopes to return customer assets next year Investors seek to sell FTX, Celsius, BlockFi, Voyager claims
