Lawyers of the bankrupt crypto exchange FTX found $ 5 billion for compensation to clients

Lawyers of the FTX cryptocurrency exchange, which went bankrupt in November last year, declaredwhich discovered liquid assets owned by the company in the amount of about $ 5 billion. These include cash, cryptocurrency and investment products, which allows the proceeds to be used to compensate the affected clients of the company.

Currently, the Delaware court is in the process of bankruptcy of the company, as part of this process, lawyers have made their statement. The court had previously granted their request not to disclose the names of her clients. It is not yet known how much money the company owes. As of December 20, FTX assets were valued at just $1 billion, while back in early autumn they were worth more than $30 billion.

Lawyers for FTX also said that “the process is now underway to monetize about 300 non-strategic investments worth about $4.6 billion.” In addition, the authorities of the Bahamas, where FTX was registered, seized the company’s accounts with approximately $425 million, which should also be used to pay out customers.

Evgeniy Khvostik