FTX’s attorney, Andy Dietderich, said $5 billion in assets had been identified in a new bankruptcy hearing.
The attorney stated that these assets do not include the $425 million in cryptocurrencies that are under the custody of the Bahamas Securities Commission. Dietderich did not elaborate on whether SBF owns more than $450 million of Robinhood stock.
FTX’s Assets Revealed
The lawyer of the bankrupt cryptocurrency exchange FTX said:
“We are currently making a complex effort to recreate the demands of each customer. We create financial statements from scratch using bank transaction records, replacing previous incomplete and unreliable financial statements.”
Lawyers appeared before Judge John Dorsey for the hearing, which included issues such as the possible sale of FTX businesses.
According to Kevin Cofsky, a partner at investment bank Perella Weinberg Partners, FTX could sell its main exchange in the bankruptcy process.
“We have initiated a review for the reorganization of the core exchange and this process is ongoing”
The company is currently prioritizing the sale of LedgerX, Embed, FTX Japan and FTX Europe.
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