FTX has successfully recovered $7.3 billion in assets and is considering reopening the exchange in the second quarter of 2023, according to a recent report.
inside hearing Attorneys for Sullivan & Cromwell, which represents FTX, said in a U.S. bankruptcy court for the District of Delaware on April 12 that the cryptocurrency firm had recovered approximately $7.3 billion in assets.
Asset investigations are still underway, but documents from creditors filed in March show that as of November 2022, the four FTX company silos had approximately $4.8 billion in assets.
According to its legal team, FTX is also considering resuming operations for its crypto exchange sometime in the second quarter of 2023, indicating it could resume operations as early as April. increase.
In a January interview, FTX CEO John Ray III was rumored to be considering bringing the defunct exchange back online.
The cryptocurrency exchange run by Sam Bankman-Fried filed for bankruptcy in November 2022 and has been in legal proceedings ever since.
Cryptocurrency exchange FTX may reassess its operations later this year, according to the legal team representing creditors.