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
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.