Crypto alternate FTX has recovered greater than $5 billion in money and liquid cryptocurrencies and securities, an legal professional for the bankrupt firm based by Sam Bankman-Fried instructed a choose on Wednesday.
The firm filed for chapter in November and U.S. prosecutors accused Bankman-Fried of orchestrating an “epic” fraud which will have price buyers, clients and lenders billions of {dollars}. Attorneys and advisers overseeing the bankrupt firm at the moment are attempting to get well funds to repay collectors.
“We have located over $5 billion of cash, liquid cryptocurrency and liquid investments securities,” Andy Dietderich, an legal professional for FTX, instructed a U.S. chapter choose in Delaware in the beginning of Wednesday’s listening to.
Dietderich additionally stated that the corporate plans to promote non-strategic investments that had a guide worth of $4.6 billion, though the corporate’s books have been described as unreliable.
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