FTX Recovers $7.3B in Assets, Bankruptcy Lawyers Declare "Dumpster Fire" Extinguished

FTX's new legal team has stabilized the situation and recovered $7.3 billion in mostly liquid, distributable assets, up nearly $2 billion from the figure lawyers gave in January. The company plans to file a preliminary plan of reorganization in July and tentatively expects to set a customer bar date by the end of September. FTX's leadership has been working extensively with U.S. law enforcement agencies that are investigating former CEO Sam Bankman-Fried for fraud.