Enlarge / Not the actual FTX headquarters. (credit: Getty Images | guenterguni)
FTX's new leadership has recovered $7.3 billion in assets and is considering whether to restart the cryptocurrency exchange, a company lawyer reportedly said during a hearing at US Bankruptcy Court in Delaware yesterday. The "$7.3 billion in cash and liquid crypto assets" is "an increase of more than $800 million since January," Reuters reported.
"The situation has stabilized, and the dumpster fire is out," FTX attorney Andy Dietderich said at the hearing. Dietderich was also paraphrased as saying that "FTX is negotiating with stakeholders about options for restarting its crypto exchange, and it may make a decision on that in the current quarter."
FTX founder and former CEO Sam Bankman-Fried, who is facing 13 criminal charges, is accused of improperly diverting billions of dollars of FTX customer funds to sister company Alameda. Bankman-Fried himself received about $2.2 billion in payments and loans from FTX entities, he said last month. Three other former executives have already pleaded guilty to criminal fraud charges.
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