The new management of FTX has made substantial progress in asset recovery, recovering $7 billion in liquid assets. This comes after the collapse of the cryptocurrency exchange and the release of an investigative report. The FTX collapse was a significant event in the industry, as the exchange was revealed to be one of the largest fraudulent operations when it filed for bankruptcy. However, the new management has made significant progress, recovering $7 billion in assets. They have also published an investigative report that exposes the reality of the exchange. The report reveals that false statements were made to banks about accounts related to trading firm Alameda Research. The report also alleges the creation of a shell company to receive customer deposits. The complicated relationship between FTX and Alameda Research was a key factor in the unraveling of the crypto empire. The new management aims to provide transparency and will release subsequent reports with further revelations about FTX’s operations.
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