FTX investor Mark Miller discusses the fallout from FTX after losing $25,000 in the collapse.
Bankrupt cryptocurrency exchange FTX has recovered upwards of $5 billion in liquid assets, an attorney for the failed platform told a judge Wednesday.
The FTX Arena name is still visible where the Miami Heat basketball team plays in Miami on Nov. 12, 2022. Lawyers for FTX disclosed Wednesday that more than $5 billion in liquid assets have been recovered so far. (AP Photo/Marta Lavandier / AP Newsroom)
That figure includes cash, liquid digital assets and investments securities, the lawyer said.
FTX BUSINESS SALES DRAW OVER 100 EXPRESSIONS OF INTEREST
The revelation comes as FTX’s new leadership, led by current chief executive John J. Ray III, try to recover what they can of customers’ and investors’ funds following the firm’s collapse under previous CEO and founder Sam Bankman-Fried.
John Ray, CEO of FTX Cryptocurrency Derivatives Exchange, speaks during a House Financial Services Committee hearing investigating the collapse of FTX in Washington, D.C., on Dec. 13, 2022. (Al Drago/Bloomberg via Getty Images / Getty Images)
Prior to its downfall, FTX was the world’s second-largest crypto exchange and was once valued at an estimated $32 billion.
DOJ