Things may be looking up for FTX customers, with news the crypto exchange recovered $7.3 billion in assets amid its bankruptcy.
FTX became the poster child for cryptocurrency mismanagement and risks when it announced it was short $8 billion. The response was swift, with the exchange collapsing, leaving many customers in limbo.
According to Reuters, the company has managed to recover $7.3 billion, giving hope that customers will be able to access their funds. Customers in Japan have already been able to, thanks to that country’s stricter crypto regulation.
Recovering the additional funds has also opened the door for FTX to resume operations once it’s through its Chapter 11 bankruptcy.
“The situation has stabilized, and the dumpster fire is out,” said FTX attorney Andy Dietderich.
The exchange is already talking with stakeholders about a possible return, with a decision likely as early as this quarter.