FTX, a bankrupt cryptocurrency exchange, has successfully managed to recover more than $7.3 billion in cash and liquid crypto assets, marking an increase of more than $800 million since the start of the year.
Andy Dietderich, the attorney for FTX, revealed that the company is now considering rebooting the controversial crypto exchange in the second quarter of this year. This comes after months of trying to collect resources and strategize the trading platform's comeback.
However, Judge Dorsey raised questions regarding the plans for reopening the exchange during a recent hearing.
Alex DovbnyaThis comes amid brewing conflict between the debtors and the official committee of unsecured creditors, with the latter accusing the debtors of being untrusting of individual committee members.
As reported by U.Today, FTX, which used to be one of the largest cryptocurrency exchanges in the world, filed for bankruptcy in November. Founder Sam Bankman-Fried was arrested in January.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Arman Shirinyan
Dan Burgin
Vladislav Sopov