FTX Recovers $7.3B in Assets, Considers Exchange Reboot
TL;DR Summary
Bankrupt crypto exchange FTX has recovered over $7.3 billion in cash and liquid crypto assets, an increase of more than $800 million since January. FTX is negotiating with stakeholders about options for restarting its crypto exchange, and it may make a decision on that in the current quarter. FTX's new CEO John Ray has detailed improper fund transfers and poor accounting at the collapsed crypto exchange, describing it as a "complete failure" of controls. FTX is also working on a preliminary Chapter 11 plan that would offer the company a path out of bankruptcy.
- Bankrupt crypto exchange FTX has recovered $7.3 bln in assets Reuters
- FTX has recovered $7.3B in assets, will consider rebooting exchange Cointelegraph
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- Crypto Exchange FTX Could Reopen, Its Attorney Says; Firm’s FTT Token Surges CoinDesk
- 'The Dumpster Fire Is Out': Attorney Hails FTX's Unbelievable $7.3B Resurgence Benzinga
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