Crypto exchange FTX has recovered more than $5 billion, but the extent of customer losses in its collapse is still unknown.
The collapse of the company has left many investors and customers wondering about the extent of their losses, and the situation has only grown murkier as the company’s founder, Sam Bankman-Fried, has been accused of orchestrating an „epic” fraud that may have cost investors, customers, and lenders billions of dollars.
According to an attorney for the bankrupt company, FTX has been able to recover more than $5 billion of cash, liquid cryptocurrency, and liquid investment securities. However, this is not enough to cover the potential customer losses, which are still unknown. The U.S. Commodities Futures Trading Commission has estimated that the missing customer funds are more than $8 billion.
In an effort to recoup some of the lost funds, FTX plans to sell off non-strategic investments that are valued at around $4.6 billion. However, the work to obtain accurate inte
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