FTX Has Recovered , $5 Billion Worth of ‘Liquid’ Assets.
CNN reports that on Jan.
11, attorneys at an FTX bankruptcy hearing said $5 billion worth of cash and digital assets have been recovered to repay creditors.
CNN reports that on Jan.
11, attorneys at an FTX bankruptcy hearing said $5 billion worth of cash and digital assets have been recovered to repay creditors.
The lawyers also revealed that over 9 million creditors had been identified, exceeding earlier estimates of 1 million.
The crypto exchange filed for bankruptcy on Nov.
11.
It is not clear how much of the frozen funds creditors will get back.
.
It is not clear how much of the frozen funds creditors will get back.
.
Meanwhile, FTX co-founder Sam Bankman-Fried is accused of orchestrating one of the "biggest financial frauds in American history.".
Last week in New York, Bankman-Friend pleaded not guilty to eight counts of fraud and conspiracy.
Last week in New York, Bankman-Friend pleaded not guilty to eight counts of fraud and conspiracy.
Prosecutors allege Bankman-Fried stole billions from FTX investors to float his failing hedge fund, Alameda Research.
.
Prosecutors allege Bankman-Fried stole billions from FTX investors to float his failing hedge fund, Alameda Research.
.
FTX's collapse is poised to wipe out equity investors such as Tom Brady and Gisele Bundchen.
FTX's collapse is poised to wipe out equity investors such as Tom Brady and Gisele Bundchen.
Other equity investors were identified in court filings earlier this week
