Attorney Claims FTX Has Recovered Over $5B Worth Of Assets

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Sam Bankman-Fried, Co-Founder of FTX; Photo Source: Lam Yik | Bloomberg | Getty Images

Andy Dietderich, the attorney representing FTX, reported that the firm has recovered $5B in cash, liquid crypto, and liquid securities.

Dietderich noted that the firm holds significant quantities of illiquid tokens that, if sold, will substantially affect their market prices. The attorney also stated that FTX intends to sell $4.6B worth of non-strategic investments. 

FTX’s legal team has yet to assess the amount of shortfalls in the firm’s balance sheet. According to the CFTC's estimations, the figure may exceed the $8B mark. According to Dietderich,

“The amount of the shortfall is not yet clear. It will depend on the size of the claims pool and our recovery efforts. But every week we come closer to completing the work necessary to estimate recoveries for the purposes of a plan of reorganization.” 



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Dietderich noted that the amount recovered by FTX does not include the FTT assets seized by Bahamian regulators. The value of the assets under the custody of the regulators remains unknown. The Securities Commission of the Bahamas estimated the price of the seized assets to be $3.5B while Dietderich claimed that the figure can be as low as $170M. 

Meanwhile, Judge John Dorsey has ruled in favor of redacting the private information of FTX’s clients. In his words,

“I'm going to overrule the objections and allow [the creditor lists] to remain sealed at this point.”

Written by
Ayush Pande

Andy Dietderich, the attorney representing FTX, reported that the firm has recovered $5B in cash, liquid crypto, and liquid securities.

Dietderich noted that the firm holds significant quantities of illiquid tokens that, if sold, will substantially affect their market prices. The attorney also stated that FTX intends to sell $4.6B worth of non-strategic investments. 

FTX’s legal team has yet to assess the amount of shortfalls in the firm’s balance sheet. According to the CFTC's estimations, the figure may exceed the $8B mark. According to Dietderich,

“The amount of the shortfall is not yet clear. It will depend on the size of the claims pool and our recovery efforts. But every week we come closer to completing the work necessary to estimate recoveries for the purposes of a plan of reorganization.” 



Get Our Free Newsletter

Subscribe to our newsletter to get tips, our favorite services, and the best deals on Bitcompare-approved picks sent to your inbox


Dietderich noted that the amount recovered by FTX does not include the FTT assets seized by Bahamian regulators. The value of the assets under the custody of the regulators remains unknown. The Securities Commission of the Bahamas estimated the price of the seized assets to be $3.5B while Dietderich claimed that the figure can be as low as $170M. 

Meanwhile, Judge John Dorsey has ruled in favor of redacting the private information of FTX’s clients. In his words,

“I'm going to overrule the objections and allow [the creditor lists] to remain sealed at this point.”

Written by
Ayush Pande