Wednesday, June 19, 2024

Tag: FTX Exchange

FTX's bankruptcy is yielding an unexpected outcome and creditors could receive up to 142% of what they are owed. This remarkable recovery is due to FTX's asset liquidation and the recent cryptocurrency boom.
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.