Crypto exchange FTX recovers $7.3B after implosion

'The situation has stabilized, and the dumpster fire is out,' says crypto firm's attorney

By Ovunc Kutlu

ISTANBUL (AA) - Bankrupt cryptocurrency trading platform FTX recovered $7.3 billion in cash and assets, the company’s attorney said Wednesday.

"The situation has stabilized, and the dumpster fire is out,” Andy Dietderich said at a US bankruptcy court hearing in the state of Delaware

FTX's founder and former CEO Samuel Bankman-Fried last month pleaded “not guilty” to five additional charges against him at a federal court in New York.

He faces a total of 13 charges involving the implosion of FTX, which was once the world's third-largest crypto trading platform by daily volume.

After pleading not guilty on Jan. 3 to eight initial charges before a US federal court in the Southern District of New York, he was released on a $250 million bond to remain in confinement at his parents’ home in Palo Alto, California.

Kaynak:

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