Attorney says FTX recovered $5 billion in cash and securities
An attorney for SBF's cryptocurrency exchange FTX testified on Wednesday that his client had recovered over $5 billion in cash and liquid cryptocurrencies and securities
In November, the company submitted its bankruptcy petition. Then, in December, prosecutors in the United States accused Bankman-Fried of masterminding an “epic” fraud that may have cost billions of dollars to investors, customers, and lenders.
Now, attorneys and advisors overseeing a company that has declared bankruptcy are attempting to recover funds to pay back creditors.
"We have located over $5 billion of cash, liquid cryptocurrency and liquid investments securities."
Although the company's books have been described as unreliable, Dietderich also stated that the organization plans to sell non-strategic investments with a book value of $4.6 billion.
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