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Ridwan Oliyide
Bankrupt cryptocurrency exchange, FTX has disclosed that it has recovered $7.3 billion in liquid assets from the defunct exchange aside from the $1.9 billion reported in January giving their creditors options to convert their holdings to Stake.
The lead attorney for FTX, Andy Dietderich who made this known during a court hearing in Delaware, United States of America on Wednesday stated that FTX is considering reopening in the nearest future.
PLATFORM TIMES gathered that FTX had collapsed last November and its ex-leader, Sam Bankman-Fried, was indicted on allegations of fraud and conspiracy for allegedly stealing billions in FTX customer funds to plug losses at his hedge fund meanwhile he pleaded not guilty to the charges.
The attorney revealed that one potential option discussed was to let FTX’s creditors convert a portion of their holdings to a stake in a reopened exchange.
Dietderich said, “There are possibilities that customers could have the option to take part of their proceeds that they would otherwise receive in cash from the estate and receive some kind of an interest in the exchange going forward.”
However, the attorney stressed that the possibility of restarting FTX is one of many and that decisions have not been finalized.
“There are as many opinions on this, I think, as there are professionals involved in this case. And that’s a lot.”
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