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The former head of FTX is still trying to find funds to pay off crypto exchange debts.

Published: 2022-11-22

Suspended from work, the former CEO of the FTX crypto exchange Sam Bankman-Fried said that he had not abandoned his attempts to save the company that had filed for bankruptcy. Now he is trying to strike a multi-billion dollar deal that will help in this matter.

In an interview with CNBC reporters, the businessman refused to reveal new details about the collapse of his cryptocurrency empire. But he noted that he is now working closely on the return of funds to clients: according to him, in the jurisdictions for which separate balance sheets were kept (including the United States), there are billions of dollars of client assets left, and there is an opportunity to satisfy the requirements of creditors.

Crypto exchange FTX filed for bankruptcy on November 11, and experienced liquidation specialist John Ray III became the new CEO of the company. Despite being cut off from corporate email and other company resources, Sam Bankman-Fried continues to argue that he can make bankruptcy easier now. His willingness to be involved has been confirmed by some of the investors with whom he has already tried to negotiate for funding, although there are doubts that anyone would be willing to risk their own funds to save FTX.

The new head of the crypto exchange, John Ray III, noted that over the past week he discovered many solvent FTX subsidiaries that were conscientiously managed by responsible persons - all of these companies are going through the bankruptcy case of the crypto exchange, and the only independent division was the Bahamian FTX Digital Markets, which is not in the structure of the organization. has downstream businesses, and it is already being liquidated by the local authorities.

During the liquidation of FTX Digital Markets, the Bahamian authorities seized the cryptocurrency assets belonging to the company - according to Elliptic experts, we are talking about the amount of $ 477 million, which was previously considered stolen as a result of a hack. The administration of the crypto exchange stated that the Bahamian division did not have the right to transfer funds, and called their withdrawal illegal.