[ad_1]
Bloomberg reports that advisers to the collapsed crypto currency exchange, FTX, have discovered more than $7 billion in cash and crypto assets that could be sold to repay creditors.
The crypto firm went into bankruptcy protection in November with billions of dollars in debt.
FTX lawyer Andrew G. Dietderich told a US court that the company is looking at selling assets worth $US4.6 billion ($6.7 billion).
Advisers have also found a large amount of other crypto assets that are harder to sell.
They’ve found more than 9 million customer accounts, but it’s unclear at the moment whether they will get any money back.
Founder Sam Bankman-Fried has been charged with fraud, money laundering and conspiracy and was released by a US court on $US250 million ($362 billion) bail to live with his parents while he fights the criminal charges.
For background, have a read of this excellent article by my colleagues Rebecca Armitage and North America correspondent Barbara Miller.
[ad_2]
Source link