According to FTX attorney Andy Dietderich, the troubled cryptocurrency exchange has actually “recovered $5 billion in cash and liquid cryptocurrencies.” Nevertheless, the exchange is still “working to rebuild deal history,” and the total amount of client shortage is “still uncertain.” The retrieved possessions do not include those taken by the Securities Commission of the Bahamas, which mostly consists of the exchange’s native token, FTX Token (FTT), which has an overall market capitalization of $444.7 million at the time of publication.Speaking to a U.S. bankruptcy judge in Delaware on Jan. 11, Dietderich likewise stated that the business prepares to sell$4.6 billion worth of non-strategic financial investments, including subsidiaries such as LedgerX, Embed, FTX Japan and FTX Europe. The business are independent of FTX with segregated accounts. FTX Japan has actually currently drafted strategies to return customer funds. In addition, FTX will end its 2021– 2028 sponsorship handle popular multiplayer online battle arena video game League of Legends. Pandoraland previously reported that FTX had$8.8 billion in total liabilities. At the time, sources stated the exchange had extremely little in cash and liquid digital properties, amounting to an approximated$8 billion hole in its balance sheet. At the Jan. 11 hearing, FTX got court approval to keep clients’names secret for three months after clients raised possible identity theft issues. Cast your vote now!Sam Bankman-Fried, the disgraced founder of FTX, has pleaded not guilty to all criminal charges related to the exchange’s fallout. The United States Attorney’s Office for the Southern District of New York has actually formed a job force to”trace and recover”missing FTX consumer funds and handle investigations and prosecutions related to the exchange’s collapse. U.S. lawmakers formerly contacted the court to authorize an”independent examiner”in FTX’s bankruptcy case after issues over disputes of interest, however it was dismissed by the administering judge. This is an establishing story, and more details will be included as it appears.