The company also plans to sell non-strategic investments that had a book value of $4.6 billion.
is still unknown, an attorney for the bankrupt company founded by Sam Bankman-Fried said Wednesday.
The company, which was valued a year ago at $32 billion, filed for bankruptcy in November and US prosecutors accused Bankman-Fried of orchestrating an“We have located over $5 billion of cash, liquid cryptocurrency and liquid investment securities,” Andy Dietderich, an attorney for FTX, told a US bankruptcy judge in Delaware at the start of Wednesday’s hearing.
Dietderich also said that the company plans to sell non-strategic investments that had a book value of $4.6 billion. However, Dietderich said the legal team is still working to create accurate internal records and the actual customer shortfall remains unknown. The Commodities Futures Trading Commission has estimated missing customer money at more than $8 billion.
Dietderich said the $5 billion recovered does not include assets seized by the Securities Commission of the Bahamas, whereFTX’s founder, Sam Bankman-Fried, 30, was indicted on two counts of wire fraud and six conspiracy counts last month.FTX’s attorney estimated the seized assets were worth as little as $170 million while Bahamian authorities put the figure as high as $3.5 billion.
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