Batik cryptocurrency The lawyer of the stock exchange FTX said in a statement that the bankrupt platform saved $ 7.3 billion in assets.
In addition, the company lawyer reported that the FTX cryptocurrency exchange will consider relaunching in the second quarter of the year.
FTX was once the world’s second largest crypto exchange with over $10 billion in daily trading volume. It filed for Chapter 11 bankruptcy protection in November 2022 after losing billions of dollars and facing a mass customer flight over allegations it was in financial trouble.
This statement by the company’s attorney points to an increase in the amount of assets recovered by more than $800 million since January.
After the development, there was a sudden increase in the price of FTT, the altcoin of the sunken stock market.
“Borrowers don’t review balance sheets because there is no balance sheet,” the attorney for the bankrupt FTX told the Delaware district judge.
FTX attorney Andy Dietderich said at a court hearing in Delaware that the company began thinking about its future after months of effort to raise funds and understand what went wrong under the leadership of impeached former founder Sam Bankman-Fried.
“The situation has stabilized and the fire is out,” Dietderich said.
*Not investment advice.
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