At the last event, the head of FTX provided participants with an update on the results and ongoing efforts of the interim administration to recover the assets of the exchange.
FTX CEO and FTX Debtors Chief Restructuring Specialist John Ray met with members and advisors of the Unsecured Creditors Committee (UCC). He said that the working group has identified a total of about $5.5 billion in liquid assets so far, including $1.7 billion in cash, $3.5 billion in crypto assets and $300 million in securities.
“We have made significant progress, but it took our team a Herculean effort to disclose this information. We ask interested parties to consider that the information is preliminary and subject to change,” Ray said.
He noted that the results confirmed his fears about a significant shortage of digital assets on the FTX and FTX.US exchanges on the eve of filing for bankruptcy. The head of the working group said that since the bankruptcy, about $400 million in crypto assets have been stolen from the accounts of FTX and FTX.US. Now his team is investigating the circumstances and identifying participants in illegal operations.
Earlier, the Bankruptcy Court approved the sale of four companies that belonged to the FTX cryptocurrency exchange. LedgerX, Embed, FTX Europe and FTX Japan will be sold to investors. According to Japanese media, online broker Monex announced its intention to acquire FTX Japan.
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