An attorney for bankrupt crypto exchange FTX told a judge Wednesday the failed platform has recovered more than $5 billion liquid assets, including cash and securities.
John Ray, CEO of FTX Cryptocurrency Derivatives Exchange, speaks during a House Financial Services Committee hearing investigating the collapse of FTX in Washington, D.C., on Dec. 13, 2022.
Prior to its downfall, FTX was the world's second-largest crypto exchange and was once valued at an estimated $32 billion.Ray previously warned that customers and investors who put their money in FTX should not hold out hope for a full recovery, telling a congressional panel last month, "We will never get all these assets back."
FTX founder Sam Bankman-Fried leaves Manhattan Federal Court in New York City after his arraignment and bail hearings on Dec. 22, 2022.
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