This amount was found in the form of “cash, liquid cryptocurrency and liquid securities”. That is what the lawyer handling the bankruptcy, Andrew Dietderich, said on Wednesday before a court in the US state of Delaware. The company is also “on track” to sell other assets with a book value of $4.6 billion.
However, according to Dietderich, it is still too early to say how much FTX will have to raise to compensate its former customers, who lost their balance practically overnight due to the bankruptcy.
FTX filed for bankruptcy in November, rocking the crypto world. The company’s business construction collapsed when it was revealed that FTX held its clients’ funds primarily in a specially issued cryptocurrency with no equivalent.
FTX founder Sam Bankman-Fried has been charged in the US with fraud and money laundering, among other things. The 30-year-old was arrested in December in the Bahamas and extradited to the United States. (sda/afp)
Source: Watson
I’m Ella Sammie, author specializing in the Technology sector. I have been writing for 24 Instatnt News since 2020, and am passionate about staying up to date with the latest developments in this ever-changing industry.
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