FTX plans to relaunch the exchange

 

Bankrupt crypto exchange FTX's attorney Andy Dietderich has revealed that the company recovered over $7.3B of crypto assets in cash and liquid.

 Dietderich also said the company is assessing the possibility of relaunching the exchange with its stakeholders.

    The amount of recovered assets refers to an increase of more than $800M since January.
    According to Dietderich, FTX profited from the recent increase in crypto prices.
    Based on crypto values from November 2022, when FTX filed for bankruptcy, the platform's entire recovery would be only worth $6.2B.
    The firm attorney also stated that the company is evaluating what went wrong under the leadership of former CEO Sam Bankman-Fried (SBF).
    The bankrupt exchange will make a final decision on a possible relaunch within this quarter.
    Dietderich added that a possible restart would require a significant amount of capital.
    FTX has yet to decide whether it would use its own funds to relaunch the exchange or to repay customers.

    FTX, previously the third-largest crypto exchange, filed for Chapter 11 bankruptcy in November 2022, with all the entities under the roof of FTX Group comprising around 130 firms.
    The downfall followed the claims that SBF used customer funds in FTX to compensate for losses at FTX's sister company Alameda Research.
    SBF currently faces trial on 13 charges, including bank fraud, money laundering, and bribery, to which he pleaded not guilty.
    In March, the bankrupt crypto exchange revealed that $8.9B of customer funds were missing in a public presentation.

جارٍ تحميل المقالات ذات الصلة...