FTX Recovers $7B in Assets, Still Owes Customers $2B for Misappropriations.
FTX has recovered $7 billion in liquid assets so far, but there is still almost $2 billion to go to cover the misappropriation of customer assets, according to the FTX Debtors’ second interim report. The report alleges that former FTX leadership intentionally commingled and misused customer deposits, making it challenging to trace substantial assets to any particular source of funding. Misappropriated funds were used for political and charitable donations, as well as the company’s investments and acquisitions, such as luxury real estate.