According to Reuters, an attorney of FTX told yesterday to the U.S. Bankruptcy Court in Delaware that the exchange’s new management had succeeded in recovering $5 billion in cash, liquid assets, cryptocurrency or investment securities. Although there is no accurate figure for the customer losses, it was estimated at around $8 billion by the U.S. Commodities Futures Trading Commission.
The company is also planning on selling non-strategic assets, with a book value of $4.6 billion. Some have suggested it might be cryptocurrencies, which if they are, could have a major impact to the downside on a still-rocky market.
Auctions are to be held next month to sell some of the subsidiaries, as the exchange has already received a lot of unsolicited offers on these subsidiaries.
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