Cryptocurrency

FTX attorney announces $5B in assets recovered

According to Reuters, FTX has recovered more than $5 billion, comprising cash, investment securities and liquid cryptocurrencies.

“We found over $5 billion in cash, liquid cryptocurrencies and liquid investment securities.”

Andy Dietderich — an attorney for FTX — provided an update on the case on January 11, notifying the Delaware bankruptcy judge at the opening of the FTX Senate banking transaction. hearing.

Dietrich also said FTX plans to sell non-strategic investments with a book value of $4.6 billion, but the company’s books are said to be unreliable.

FTX filed for bankruptcy on November 11, 2022, with founder Sam Bankman-Fried (SBF) accused of fraud, costing investors, customers and lenders over $10 billion. Lawyers and counsel continue to work to collect funds to pay back FTX creditors.

Post FTX lawyers have announced that $5 billion in assets have been recovered and first appeared on CryptoSlate.

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