Jan 12, 2023

Collapsed crypto exchange FTX recovers $5 billion worth of assets

Posted by in category: cryptocurrencies

The extent of losses faced by investors remains unknown so far.

FTX, the cryptocurrency exchange that came crashing down in just a week in November last year, has now recovered assets worth $5 billion, its attorney told a U.S. court, BBC

Valued at over $32 billion just a year ago, the crypto exchange, with its head office in the Bahamas, faced a liquidity crunch. The founder, CEO Sam Bankman-Fried (SBF), filed for bankruptcy protection on November 11.

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