FTX has collected $7 billion in property to date, leaving practically $2 billion in fraud protection

By
currency Journal
-
9
308

FTX has collected about $7 billion in liquid property thus far and is constant to seek for extra property, CEO John Ray stated in FTX Debtors’ Second Interim Report. stated to liberated June twenty sixth. However a big mixture of funds complicates their efforts.

FTX Debtors, which contains FTX and its associates, at present estimates the quantity of misappropriated shopper property at $8.7 billion. Most of that cash, about $6.4 billion, was in fiat currencies and stablecoins, however FTX didn’t differentiate between them in its accounting.

A diagram of FTX’s cash move earlier than the collapse. Supply: FTX

Learn extra on Cointelegraph

See also  Twitter account suspended as a result of Shiba Inu burns

RELATED ARTICLESMORE FROM AUTHOR

Comments are closed.