Business News

FTX has recovered $5 billion in liquid assets

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.

Stay ahead of the game with our Crypto News.
Boost your knowledge about Crypto with our Crypto Encyclopedia.


Greetings, I go by the name of Flavien - a devoted supporter of cryptocurrency and a tech aficionado who has been keeping track of the developments in the world of blockchain and digital currencies since 2019. The potential of decentralized digital currencies to revolutionize our financial systems has captivated me, and I'm constantly exploring the most recent trends and advancements in this ever-evolving industry. As a content creator for Krypto Channel, my aim is to deliver informative and engaging articles that shed light on all aspects of the crypto world. Whether you're a seasoned investor or simply curious about blockchain technology, I am here to keep you updated on the latest happenings and trends. Being part of this lively and dynamic community is an honor, and I am thrilled to share my passion for cryptocurrency and blockchain with all of you.
Back to top button