FTX attorney announces $5B in assets recovered

Share This Post

FTX recovered over $5 billion comprised of cash, investment securities and liquid cryptocurrencies, according to Reuters.

“We have located over $5 billion of cash, liquid cryptocurrency and liquid investments securities.”

Andy Dietderich — an FTX attorney — provided the update to the case on Jan. 11, informing a bankruptcy judge in Delaware at the start of the FTX Senate Banking hearing.

Dietderich also said that FTX plans to sell non-strategic investments that had a book value of $4.6 billion, although the company’s books have been described as unreliable.

FTX filed for bankruptcy on Nov. 11, 2022, leading to founder Sam Bankman-Fried (SBF) being accused of fraud — costing investors, customers and lenders alike in excess of $10 billion. Attorneys and advisers continue to endeavor to recover funds to repay FTX creditors.

The post FTX attorney announces $5B in assets recovered appeared first on CryptoSlate.

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

SEC Push Against Elon Musk Stalls as Judge Denies Sanctions

A US federal judge declined the SEC’s request to sanction Elon Musk over his absence from a court-ordered testimony related to his $44 billion acquisition of Twitter Judge Jacqueline Scott

XRP Price Builds a Base: Can Bulls Ignite a New Rally?

XRP price surged further above the $145 and $150 resistance levels The price is now consolidating gains near $140 and might aim for more upsides XRP price started a fresh surge above the $140

Can Bitcoin Price Rise Above $99k Today? Indicators Turn Green Despite Pullback Below $96k

The post Can Bitcoin Price Rise Above $99k Today Indicators Turn Green Despite Pullback Below $96k appeared first on Coinpedia Fintech News Bitcoin is currently down by more than one percent and is

Binance Bitcoin Reserves Up 25%, Holding 40% of Global Market Share

The post Binance Bitcoin Reserves Up 25%, Holding 40% of Global Market Share appeared first on Coinpedia Fintech News Despite persistent fear, uncertainty, and doubt (FUD), Binance’s customer

India’s RBI Boosts Cross-Border Payments Platform with CBDC Integration

The post India’s RBI Boosts Cross-Border Payments Platform with CBDC Integration appeared first on Coinpedia Fintech News The Reserve Bank of India (RBI) is enhancing its cross-border payments

XRP Price Prediction For November 25

The post XRP Price Prediction For November 25 appeared first on Coinpedia Fintech News Ripple’s XRP is currently down by more than five percent and is trading near the $140 levels Majority of the