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FTX: Collapsed crypto giant recovers over $5bn of assets

Headlines 15:59 12 Jan, 2023
Collapsed cryptocurrency exchange FTX has located more than $5bn (£4.1bn) of assets, an attorney for the firm says
FTX: Collapsed crypto giant recovers over $5bn of assets

However, a US bankruptcy court was told on Wednesday that the extent of losses to customers is still not known.

Prosecutors have accused FTX's former chief executive Sam Bankman-Fried of orchestrating an "epic" fraud that may have cost investors, customers and lenders billions of dollars.

Mr Bankman-Fried has pleaded not guilty to charges that he cheated investors. 

"We have located over 5 billion dollars of cash, liquid cryptocurrency and liquid investment securities," Andy Dietderich, an attorney for FTX, told US Bankruptcy Judge John Dorsey in Delaware.