Bankrupt crypto exchange FTX has recovered $7.3 bln in assets

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Bankrupt crypto exchange FTX has recovered $7.3 bln in assets
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Bankrupt crypto exchange FTX has recovered over $7.3 billion in cash and liquid crypto assets, an increase of more than $800 million since January, the company's attorney said on Wednesday at a U.S. bankruptcy court hearing in Delaware.

FTX attorney Andy Dietderich said the company is starting to think about its future after months of effort devoted to collecting resources and figuring out what went wrong under the leadership of"The situation has stabilized, and the dumpster fire is out," Dietderich said.

FTX's new CEO John Ray has detailed improper fund transfers and poor accounting at the collapsed crypto exchange, describing it as a "As it looks to the future, FTX is negotiating with stakeholders about options for restarting its crypto exchange, and it may make a decision on that in the current quarter, Dietderich said.

So far, FTX customers in Japan have been the only ones able to withdraw any funds so far, because of that country's relatively strong crypto regulations, Dietderich said. FTX is also working on a preliminary Chapter 11 plan that would offer the company a path out of bankruptcy, Dietderich said.

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