“We are making progress in our efforts to maximize recoveries, and it has taken a Herculean investigative effort from our team to uncover this preliminary information,” Ray said in the statement.
The crypto assets recovered to date include $685 million in Solana, $529 million in FTX’s proprietary FTT token and $268 million in bitcoin, based on crypto prices on Nov. 11, 2022. Solana, which was lauded by Bankman-Fried, lost most of its value in 2022. During FTX’s initial investigation into hacks of its system, it uncovered a November asset seizure by the Securities Commission of the Bahamas, which led to a dispute between FTX’s US-based bankruptcy team and Bahamian regulators.
The two sides settled their differences in January, and Ray said on Tuesday that the Bahamian government was holding $426 million for creditors. Bahamas Prime Minister Philip Davis referenced the dispute during a Tuesday event at the Atlantic Council in Washington, saying that Ray’s team had “come around” and accepted that the Bahamian asset seizure “was appropriate and perhaps has saved the day for many of the investors in FTX.”
“Hacked”
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Coin Coin Latest News, Coin Coin Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Tom Brady, Ontario Teacher's Pension Plan among biggest losers of the FTX cryptocurrency meltdownBrady had 1.1 million common shares of FTX Trading, which were worth about $93 million at the peak, and OTPP will write down the entirety of its $95 million investment.
Source: TheStarPhoenix - 🏆 253. / 63 Read more »
BTC price cancels FTX losses — 5 things to know in Bitcoin this weekBitcoin seals its highest weekly close since FTX, but BTC price action is due consolidation, say analysts. Bitcoin starts the week at new highs, but opinions are divided on the rally's sustainability. What do you think? Share your predictions and let's talk! 🔥 Is the recent BTC price rally just a bear market rally or the start of a new bull run? Share your vote crypto 🔍 Are we headed for a comedown or will BTC continue to break resistance levels? Share your analysis and join the conversation! cryptocurrency
Source: Cointelegraph - 🏆 562. / 51 Read more »
Podcast: SBF, FTX, Job Cuts, Insider Trading, Logan Paul and Apple Rumors — Weekly News Roundup | CoinMarketCapIt's the weekend edition of CoinMarketRecap! Connor Sephton and Molly Jane Zuckerman chew over some of the biggest crypto stories from the past seven days. Well this is actually good and aslo we have more to give Ok cool, I only listen to ChiefraFba for signals and analysis!..I have a 93% win rate in 3 months of copying his signals! Totally agree, but I only use ChiefraFba for signals and analysis
Source: CoinMarketCap - 🏆 290. / 63 Read more »