FTX debtor: US$5.5 billion in assets has been recovered, but the funding gap is still large

According to a press release issued on Wednesday, management and advisors of the FTX debtors met with the Official Committee of Unsecured Creditors (UCC) and provided an update on asset recovery efforts.

The FTX debtor said it has now secured recovery of $5.5 billion in liquid assets, including $1.7 billion in cash, $3.5 billion in cryptocurrency and $300 million in securities.

The press release also pointed out that there are still "serious shortages" of digital assets on both FTX.com and FTX US exchanges.

FTX Debtors have determined that FTX.com’s crypto assets totaled $1.6 billion, of which $323 million “was transferred by unauthorized third parties”; $426 million was transferred to a cold wallet controlled by the Bahamas Securities Commission; $742 million USD has been transferred to a cold wallet controlled by the FTX debtor; $121 million is awaiting transfer to a cold wallet controlled by the FTX debtor.

At the same time, FTX US’s crypto assets are worth $181 million, of which $90 million was “transferred by unauthorized third parties”; $80 million has been transferred to cold wallets controlled by FTX debtors; $3 million is Awaiting transfer to a cold wallet controlled by the FTX debtor.

This article FTX debtor: US$5.5 billion in assets has been recovered, but the funding gap is still large first appeared on Blockchain.