The company is working to monetize assets with a book value of $4.6 billion, company attorney Andrew G. Dietderich said in federal court in Wilmington, Delaware on Wednesday. Advisers have also found a large amount of other crypto assets that are illiquid and therefore harder to sell, he said.
Advisers for the failed crypto exchange have been sorting through the wreckage left behind by its founder, Sam Bankman-Fried, since the company collapsed into bankruptcy in November. FTX’s books and records ranged fromFTX advisers have identified more than 9 million customer accounts, Dietderich said. The company doesn’t yet know how much money creditors will get back, or what percentage of their debts will be repaid, he said.
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:
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Business Maverick: Wall Street Counting on Big Tech Rip Once Fed Eases HikesWall Street tech bulls are counting on the industry’s megacap stocks to move higher before long and jump start a rebound in the S&P 500.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Diamond Sales Fuel Botswana Budget Surplus as Buyers Shun RussiaBotswana posted a budget surplus for the six months through September, driven by surging demand for diamonds as buyers flocked to the African nation and avoided Russia following its invasion of Ukraine.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: South African President Plays Down Central Bank Mandate Change TalkSouth African President Cyril Ramaphosa played down suggestions that an amendment to the central bank’s mandate is imminent, while confirming that a possible change remains under discussion. Once again no backbone.......the alliance ( In normal English ....Coalition) must split..... Why destroy one thing that works? The markets will rip faces off if they get it wrong.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Markus Jooste fined R15m, banned from directorships at listed companies for 20 yearsThe JSE has finally taken action against the disgraced former Steinhoff CEO. There must be a story behind what took so long When is he going to prison? What is R15m to him? Come on JSE, stand up and be counted, for once. Biggest fraud ever in the country, and this is what you fine him? How much did he cost the country and its reputation
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: World Bank Cuts 2023 Forecasts and Warns of Global RecessionThe World Bank slashed its growth forecasts for most countries and regions, and warned that new adverse shocks could tip the global economy into a recession.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Coinbase Eliminates 20% of Staff in Latest Round of LayoffsCoinbase Global Inc. is firing about 950 employees, or 20% of its workforce, as the worsening crypto slump spurs another round of layoffs at the biggest US digital-asset exchange.
Source: dailymaverick - 🏆 3. / 84 Read more »