Bankruptcy Lawyer Says FTX Recovered "Over $5B" in Assets

A bankruptcy attorney announced Wednesday that FTX had recovered almost $5 billion in assets.

The attorney claimed the amount due to customers is yet unknown.

On Dec. 20, 2022, the company's new leadership announced it could only locate $1 billion.

FTX's debt is uncertain. Management clicked the box for $1 billion to $10 billion in bankruptcy petitions.

The former CEO also established a $65 billion exchange-to-trading arm line of credit.

Landis remarked, "It doesn't matter who collects $1 for customers, as long as they get it."

"We've formed a task force with the official committee of creditors and reform of the international platform."