Bankrupt cryptocurrency exchange FTX has succeeded in recovering $5 billion worth of liquid assets, including crypto, cash and securities, CNBC has learned, citing the exchange's bankruptcy attorneys. It is not yet clear, how exactly the exchange managed to get the money back, but it is possible that FTX might sell them to repay customers and creditors.
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FTX attorney Andrew Dietderich also said during the bankruptcy hearing that the company is trying to sell off other "nonstrategic investments" made by FTX, The Washington Post reports. The exchange wrote in a bankruptcy filing it owes over $3 billion to 50 of its largest creditors.
In late Dec. 2022, the Securities Commission of The Bahamas confiscated more than $3.5 billion in FTX assets for safekeeping. The Commission said there was a "significant risk of imminent dissipation" as to the crypto held on FTX.
FTX filed for Chapter 11 bankruptcy protection in the US in early November after it had faced a liquidity crisis.
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