The advisors to bankrupt crypto company FTX Group have restored access to more than $5B in assets that can be used to pay off injured creditors, Bloomberg Law has reported citing the group’s lawyer Andy Dietderich.
According to him:
“We found more than $5 billion in cash, as well as liquid cryptocurrencies and investment securities.”
We should note that this amount does not include funds previously frozen by the Bahamas regulator, which might amount to $170 million.
According to him, the assets seized in the Bahamas mainly consist of utility tokens from the FTT exchange. Due to its high volatility, they are difficult to sell on the open market.
The lawyer also stated at the January 11 court hearing the company “discovered a large number” of other illiquid digital assets.