FTX REVIVAL
Updated: Jun 8
- FTX court case
- FTT token price actions
- 7.3 Billion Liquid Assets recovered (Asset Recovery Efforts)
- FTX Japan successfully protected customer funds
- Forensic Investigation (uncovered 1.3 Terabytes of important data)
FTX Disaster Timeline
FTX Court Case: FTX Planning to Relaunch the exchange
FTT TOKEN PRICE ACTIONS
FTT TOKEN PUMPED ±86%
FTX's RECOVERY EFFORTS
FTX AFFILIATE THAT SUCCEEDED IN PROTECTING CUSTOMER FUNDS
Reason for large-scale investigation & current state of FTX: Poor Operation & Management of company and Persuasively lying to creditors
FORENSIC INVESTIGATION
Uncovered 1.3 Terabytes of crucial data related to missing of customer funds and outflow of assets.
Uncertainty surrounding the relaunch
The executives believe that by relaunching the exchange, the revenue obtained from it can be utilized to recover users' and creditors assets lost in the crash.
However, the firm's reputation has been completely damaged. The source of capital required to restart is still unclear.
Reference:
David Marsanic, S.T. (2023) FTX reveals Q2 relaunch plans in Roadmap update: Attorney dietderich discusses assets, customer withdrawals, FTX japan , DailyCoin. Available at: https://dailycoin.com/ftx-reveals-q2-relaunch-plans-in-roadmap-update-attorney-dietderich-discusses-assets-customer-withdrawals-ftx-japan/ (Accessed: April 16, 2023).