FTX has recovered $7.3 billion in assets and is considering relaunching the exchange in the second quarter of 2023, according to recent reports.
during he heard What happened on April 12 in the US Bankruptcy Court for the District of Delaware, attorneys from Sullivan and Cromwell representing FTX said the cryptocurrency firm had recovered about $7.3 billion in assets.
The investigation into the assets is still ongoing, however, and a document from creditors filed in March said the four FTX silos had assets of about $4.8 billion as of November 2022.
According to the legal team, FTX will also consider resuming operations on its cryptocurrency exchange sometime during the second quarter of 2023, which indicates that the appeal could take place as early as April.
During an interview in January, it was rumored that FTX CEO John Ray III was considering bringing the defunct exchange back online.
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The unsuccessful cryptocurrency exchange run by Sam Bankman-Fried filed for bankruptcy in November 2022 and has been involved in legal action ever since.
According to the legal team representing the creditors, cryptocurrency exchange FTX may give new consideration to its operations later this year.