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$740M in crypto assets recovered in FTX bankruptcy so far

Bruce Kluckhohn/AP

File - The FTX logo appears on home plate umpire Jansen Visconti's jacket at a baseball game with the Minnesota Twins on Tuesday, Sept. 27, 2022, in Minneapolis. The new CEO of the collapse cryptocurrency trading firm FTX, who oversaw Enron’s bankruptcy, said, Thursday, Nov. 17, he has never seen such a “complete failure” of corporate control. John Ray III, in a filing with the U.S. bankruptcy court for the district of Delaware, said there was a “complete absence of trustworthy financial information.” (AP Photo/Bruce Kluckhohn, File)

By: By KEN SWEET AP Business Writer

Posted at 5:02 PM, Nov 23, 2022

and last updated 2022-11-23 17:02:33-05

NEW YORK (AP) — The company tasked with locking down the assets in the failed cryptocurrency exchange FTX said they've managed to recover and secure $740 million in assets so far, a fraction of the potential billions that is likely missing from bankrupt company's coffers.

The numbers were disclosed on Wednesday by cryptocurrency custodial company BitGo, who FTX hired in the hours after the company filed for bankruptcy on November 11.

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$740M in crypto assets recovered in FTX bankruptcy so far

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