Bankrupt cryptocurrency exchange FTX was able to return $ 7.3 billion for compensation to customers

Lawyers of the FTX crypto exchange, which went bankrupt last November, were able to discover a total of $ 7.3 billion of liquid assets belonging to it. Of these, $800 million was found from January to early April. Assets include cash, cryptocurrencies and investment products, which can later be returned to FTX clients and investors. The agency reports Reuters referring to a statement by FTX lawyer Andy Dietderich in bankruptcy court in Delaware.

Given the success of the asset recovery process, FTX may be starting to think about the future, the lawyer said. According to him, the situation has stabilized, which was largely facilitated by the growth of the cryptocurrency exchange rate. Currently, according to the FTX lawyer, they are negotiating with shareholders and investors about the possible resumption of the crypto exchange. A decision on this issue may be taken as early as this quarter, he said. However, everything depends on whether the significant funds necessary for this will be found. In addition, FTX is working on a Chapter 11 Bankruptcy Recovery Plan, which is due by July of this year.

Crypto exchange FTX, which at one time was considered the second largest crypto exchange in the world, went bankrupt in November 2022. Two months before the bankruptcy, FTX was valued at $32 billion, in early December, the value of the exchange’s assets fell to $1 billion. FTX founder Sam Bankman-Fried has already faced more than a dozen charges, including fraud, conspiracy to defraud, negligence in the management of the exchange, bribery and etc. Several former FTX executives are also under investigation.

Alena Miklashevskaya