{"id":72434,"date":"2023-01-12T14:34:53","date_gmt":"2023-01-12T12:34:53","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=72434"},"modified":"2025-09-08T15:08:17","modified_gmt":"2025-09-08T12:08:17","slug":"ftx-group-regains-access-to-over-5-billion-in-liquid-assets","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/ftx-group-regains-access-to-over-5-billion-in-liquid-assets\/","title":{"rendered":"FTX Group regains access to over $5 billion in liquid assets"},"content":{"rendered":"<p>Advisers to the FTX Group in bankruptcy proceedings have regained access to assets totaling more than $5 billion, which can be used to pay affected creditors. <a href=\"https:\/\/news.bloomberglaw.com\/business-and-practice\/ftx-advisers-have-found-5-billion-of-cash-or-sellable-crypto?context=article-relatedv\">Bloomberg Law<\/a> reports citing the group&#8217;s attorney Andrew Dittderikha.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cWe have uncovered more than $5 billion in cash, as well as liquid cryptocurrencies and securities,\u201d <a href=\"https:\/\/www.reuters.com\/business\/finance\/ftx-seeks-court-rulings-asset-sales-customer-privacy-2023-01-11\/%D0%BC%D0%B8%D0%BD\">Reuters<\/a> quotes Dittderikha.<\/p>\n<\/blockquote>\n<p>The amount above does not include funds previously <a href=\"https:\/\/u1f987.com\/en\/news\/bahamas-regulator-freezes-ftx-assets\">frozen<\/a> by the Bahamian regulator. Their value, according to the attorney, is about $170 million.<\/p>\n<p>He explained that the assets seized in the Bahamas chiefly consist of the exchange&#8217;s utility tokens FTT. Because of their high volatility, they are difficult to liquidate on the open market.<\/p>\n<p>At the January 11 hearing, the attorney also said that the company \u201chas uncovered a large amount\u201d of other illiquid digital assets. According to him, the FTX Group plans to sell non\u2011strategic investments with a book value estimated at $4.6 billion.<\/p>\n<p>Dittderikha added that the FTX Group&#8217;s legal team identified more than 9 million customer accounts. Judge John Dorsey granted the motion to seal the names of identified users, deeming the information a trade secret.<\/p>\n<p>The adviser emphasised that the group\u2019s advisers have not yet calculated the extent of its clients\u2019 losses.<\/p>\n<p>As reported in court documents, about 117 potential buyers <a href=\"https:\/\/u1f987.com\/en\/news\/ftx-subsidiaries-attract-117-potential-buyers\">interested in acquiring FTX units<\/a>.<\/p>\n<p>Follow ForkLog&#8217;s bitcoin news in our Telegram \u2014 cryptocurrency news, prices and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Advisers to the FTX Group in bankruptcy proceedings have regained access to assets totaling more than $5 billion, which can be used to pay affected creditors. Bloomberg Law reports citing the group&#8217;s attorney Andrew Dittderikha.<\/p>\n","protected":false},"author":1,"featured_media":72435,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1236],"class_list":["post-72434","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-ftx"],"aioseo_notices":[],"amp_enabled":true,"views":"20","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/72434","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=72434"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/72434\/revisions"}],"predecessor-version":[{"id":72436,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/72434\/revisions\/72436"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/72435"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=72434"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=72434"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=72434"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}