New York, Mar 23 (EFE).- The FTX cryptocurrency platform, which filed for bankruptcy last November and is in the process of recovering money to pay its creditors, will obtain about 500 million dollars with the sale of two of its investments, according to court documents published this Wednesday and Thursday.
FTX told bankruptcy court today that it will sell its interests in startup Mysten Labs for $95 million, and reached an agreement yesterday to recoup some $404 million from an investment in hedge fund Modulo Capital, in both cases resolving legal disputes. millionaires.
FTX’s bankruptcy proceedings are taking place in a Delaware court and the firm is now run by a court-appointed administration headed by John Ray, an executive specializing in recovering funds from failed companies who worked on a similar process with the oil company. Enron.
FTX has not exactly detailed the money lost by its users in the collapse of the platform and Ray has said publicly in presentations that the platform had “incomplete” and sometimes “non-existent” accounting documents, but it is estimated that the hole may be of at least $8 billion.
The liquid assets that the company has identified to compensate the affected debtors amount to about 6,100 million, including cash, shares and cryptocurrencies, according to a meeting between both parties whose result was disclosed earlier this month.
FTXB co-founder Sam Bankman-Fried (SFB) is facing twelve financial criminal offenses linked to fraud, to which he has pleaded not guilty, and after paying one of the highest bail in history, at $250 million, he expects released on trial in October, in which he faces decades in jail.
SFB’s prospects do not look rosy, however, as its inner circle, fellow FTX co-founders Gary Wang and Nishad Singh, and the former head of their investment arm Alameda Research, Carolyn Ellison, have pleaded guilty to their own charges. charges and collaborate with the Prosecutor’s Office.
