An attorney for cryptocurrency exchange FTX said in court that the business has recovered more than $5 billion in liquid assets, but it is still unclear how much money customers lost when Sam Bankman-company Fried’s crashed.
The company was valued as a $32 billion corporation last year. In November, the business sought bankruptcy protection, and U.S. authorities charged Bankman-Fried with planning a scam that may have lost investors, clients, and lenders billions of dollars.
Andy Dietderich, an attorney for FTX, told U.S. Bankruptcy Judge John Dorsey in Delaware that FTX has located $5 billion of cash in liquid cryptocurrency and liquid investment securities.
Additionally, according to Dietderich, the business intends to divest non-strategic investments with a $4.6 billion book value.
