* Our Parent Company Crypto Token is LIVE!!! *Flag Token

it took ‘Herculean investigative effort’ to identify $5.5B in liquid assets

Date:

Share post:

The debtors behind FTX have identified $5.5 billion in liquid assets but reported a “substantial shortfall of digital assets” at the bankrupt crypto exchange and its U.S. arm.

In a Jan. 17 announcement, FTX said it had identified $1.7 billion in cash, $3.5 billion in crypto assets and $0.3 billion in securities following the firm filing for Chapter 11 bankruptcy in November. The debtors added that they had identified roughly $1.6 billion in digital assets associated with FTX.com — including roughly $426 million being held by the Securities Commission of The Bahamas — and $181 million connected to FTX US.

“We are making important progress in our efforts to maximize recoveries, and it has taken a Herculean investigative effort from our team to uncover this preliminary information,” said FTX CEO John Ray. “We ask our stakeholders to understand that this information is still preliminary and subject to change. We will provide additional information as soon as we are able to do so.”

Read more…

Related articles

Dogecoin Set To Release New Version Of Blockchain Tool Libdogecoin: What Investors Need To Know – Benzinga

Dogecoin Set To Release New Version Of Blockchain Tool Libdogecoin: What Investors Need To Know  Benzinga Read more...

NFT Market Remains Resilient With 1.23% Increase in Sales, Ethereum Dominates With 81% of Total NFT Settlements – Bitcoin News

Non-fungible token (NFT) sales rose slightly last week, increasing 1.23% to $232.49 million in recorded sales. The top...

‘In Excess Of A Trillion Dollars’—Bitcoin And Crypto Mogul Reveals Wild ChatGPT Plan

ChatGPT, the Microsoft MSFT -backed AI-based chatbot that's taken the world by storm, has become the fastest-growing...

Cardano Projects Building on Blockchain Hit Major Milestone – U.Today

Cardano Projects Building on Blockchain Hit Major Milestone  U.Today Read more...