FTX bankruptcy officials have recovered more than $5 billion in assets

An attorney for Sullivan & Cromwell today told the Bahamian court that it has recovered more than $5 billion in cash, “liquid cryptocurrency” and other investment securities. That doesn’t include the roughly $400 billion in crypto held by the Securities Commission of the Bahamas. The recovered funds don’t include the approximately $400 billion in crypto held by the Securities Commission of the Bahamas. Landis said that the firm’s positions “cannot be sold without substantially affecting the market for the token.” He added, “Previously, attorneys had said they had only recovered $1 billion.” That is good news for both creditors and clients. Bitcoin is down $80 to $17395 today.