FTX recovers over $5 billion in assets, attorney claims

The bankruptcy cryptocurrency exchange – FTX – has managed to recover over $5 billion of its assets. The recovery was made in cash, liquid cryptocurrencies, and securities. This, however, does not take into account the money held by the Bahamas Securities Commission. The commission holds over $400 million of the crypto exchange’s assets. The revelation was made during the bankruptcy hearing by FTX attorney – Adam Landis.

Moreover, according to Reuters, the bankruptcy attorney stated that the firm plans to sell non-strategic investments. These investments have a book value of $4.6 billion. In addition, the attorney claimed that they had discovered another large sum of illiquid crypto assets. These, however, are harder to sell. The crypto exchange is still trying to rebuild transaction history and the total amount of customer shortfall continues to be in the gray area.

The story is still updating.

Read the best crypto stories of the day in less than 5 minutes Subscribe to get it daily in your inbox. Please select your Email Preferences. The Daily Digest The Weekly Digest