This was announced by the chief lawyer of FTX Adam Landis, speaking on Wednesday in a Delaware court.
Good news for FTX victims. As planned for many weeks, a new FTX hearing took place in the US this Wednesday. In particular, during this hearing, the FTX restructuring team made a surprising and even reassuring statement.
Indeed, he assures that after bankruptcy on November 11, he would have returned assets worth more than $ 5 billion.
“We discovered more than $5 billion in cash, liquid cryptocurrencies and liquid investment securities,” FTX chief lawyer Adam Landis said Wednesday in a Delaware court.
Added to this amount is $425 million in cryptocurrencies held by the Bahamas Commission.
1 million creditors
But will that be enough to pay off more than a million creditors? As a reminder, FTX already owes $3.1 billion to its top 50 creditors, which will be repaid on a priority basis. However, many media outlets are reporting that the total amount FTX owes to its creditors is still unclear, as the company said on Dec. 20 that it could only find a billion dollars to reimburse its customers.
Recall that, according to the latest lawsuits, FTX debts range from 10 to 13 billion with assets of 2 to 4 billion. The lawyer also said this Wednesday that FTX “has also identified more than 9 million client accounts associated with approximately $120 billion in transactions. He said that the team is currently following the process of determining the cost of positions. every customer,” says Decrypt.