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FTX assets: Lawyers located billions in cash and crypto located

In just three years, FTX, founded by Sam Bankman-Fried, had swiftly put money into a hodgepodge of assets

Photo: Bloomberg
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Photo: Bloomberg

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Two months after FTX filed for bankruptcy, lawyers for the cryptocurrency exchange have begun to identify and put a value on its assets, as they determine how much they will be able to recover to repay lenders and customers who lost billions of dollars.

In a court filing, lawyers from the New York firm of Sullivan & Cromwell  said that they had located $5.5 billion in assets held in customer accounts or tucked away in other parts of the firm.

In just three years, FTX, founded by Sam Bankman-Fried, had swiftly put money into a hodgepodge of assets,

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First Published: Jan 19 2023 | 12:23 AM IST

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