FTX Has Recovered $7.3B In Assets, Will Consider Rebooting Exchange

In an April 12 hearing in the United States Bankruptcy Court for the District of Delaware, lawyers representing FTX with Sullivan & Cromwell said that the crypto firm had recovered roughly $7.3 billion in liquid assets and that they will consider rebooting the exchange.

Cryptocurrency exchange FTX may be considering restarting in the future, according to the legal team behind the debtors.

In an April 12 hearing in the United States Bankruptcy Court for the District of Delaware, lawyers with Sullivan & Cromwell representing FTX said the crypto firm had recovered roughly $7.3 billion in liquid assets. A March filing from the debtors reported the four FTX company silos had roughly $4.8 billion in scheduled assets as of November 2022, with an investigation into the assets ongoing.

According to the legal team, FTX will also consider restarting its crypto exchange operations sometime in the second quarter of 2024 — suggesting a reboot as early as April. FTX CEO John Ray was reportedly mulling reviving the bankrupt exchange in a January interview.

Marshall Beard, the Chief Strategy Officer at the U.S.-headquartered cryptocurrency exchange Gemini, said that Bitcoin could test new highs this year and reach $100,000.

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