Bankruptcy attorney Andrew Dietderich said Wednesday before a court in the US state of Delaware. The company is also “on the right track” to sell other assets with a book value of $4.6 billion.
However, according to Dietderich, it’s too early to tell how much higher FTX will have to raise to recoup former customers who lost their balances almost overnight due to bankruptcy.
Rocking the crypto world, FTX filed for bankruptcy in November. The company’s business structure collapsed when it emerged that FTX was essentially holding client funds in a privately-issued cryptocurrency with no equivalent.
Sam Bankman-Fried, the founder of FTX, was charged in the US, among other things, with fraud and money laundering. The 30-year-old was arrested in the Bahamas in December and extradited to the United States.
(SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
