FTX Recovers $7.3B in Assets and Considers Exchange Reboot
FTX, the bankrupt cryptocurrency exchange, has recovered over $7.3 billion in liquid assets, according to an attorney for the platform. The new leadership, led by CEO John J. Ray III, is attempting to recover customers' and investors' money following the firm's collapse under previous CEO and founder Sam Bankman-Fried. The company has gathered an additional $2.4 billion after reporting in January that it had roughly $5 billion in cash, digital assets, and investment securities. Several former executives from FTX and its sister hedge fund, Alameda Research, are facing federal charges related to the companies' failures, which resulted in tens of billions of dollars of losses to customers.
- FTX has recovered $7.3B in assets, bankruptcy lawyer says Fox Business
- FTX’s Bankruptcy Lawyers: ‘The Dumpster Fire Is Out’ CoinDesk
- FTX attorney says $7.3B in assets recovered: 'Dumpster fire is out' New York Post
- SBF called Alameda “unauditable,” joked about losing track of $50 million Ars Technica
- FTX has recovered $7.3B in assets, will consider rebooting exchange Cointelegraph
Reading Insights
0
11
2 min
vs 3 min read
79%
517 → 107 words
Want the full story? Read the original article
Read on Fox Business