As events continue to unfold in the wake of FTX’s collapse, some of the funds missing from the exchange’s accounts have been found and secured.
Shortly after its sudden downfall, FTX hired digital asset custodial company BitGo to handle its accounts and assets. Now, the custodial firm has recovered crypto assets worth over $700 million for the exchange.
According to a Wednesday filing at the United States Bankruptcy Court for the District of Delaware, $740 million in crypto was transferred to BitGo on November 16, four days after FTX filed for bankruptcy.
(by Mandy Williams)