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FTX Lawyer: $5 Billion Of Assets Recovered

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A cryptocurrency trading platform FTX has reclaimed greater than 5 billion worth of liquid assets.

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However, the amount of the losses suffered by customers in the collapse of the company founded by Sam Bankman-Fried is undetermined, an attorney for the company said to a U.S. bankruptcy court on Wednesday.

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The company estimated $32 billion was applied to protect its bankruptcy in November.

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U.S. prosecutors accused Bankman-Fried of conducting the "epic" scam that could have cost customers, investors and creditors billions.

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"We have located over $5 billion of cash, liquid cryptocurrency and liquid investment securities," Andy Dietderich, an attorney for FTX, told U.S. Bankruptcy Judge John Dorsey in Delaware at the start of Wednesday's hearing.

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"We have located over $5 billion of cash, liquid cryptocurrency and liquid investment securities,"

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 Andy Dietderich, an attorney for FTX, told U.S. Bankruptcy Judge John Dorsey in Delaware at the start of Wednesday's hearing.

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Dietderich also stated that the company would be selling non-strategic investment portfolios that have an estimated record valuation of $4.6 billion.

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