Collapsed cryptocurrency change FTX has positioned greater than $5bn (£4.1bn) of property, an legal professional for the agency says.
Nevertheless, a US chapter courtroom was informed on Wednesday that the extent of losses to prospects remains to be not identified.
Prosecutors have accused FTX’s former chief government Sam Bankman-Fried of orchestrating an “epic” fraud that will have value traders, prospects and lenders billions of {dollars}.
Mr Bankman-Fried has pleaded not responsible to prices that he cheated traders.
“We’ve positioned over 5 billion {dollars} of money, liquid cryptocurrency and liquid funding securities,” Andy Dietderich, an legal professional for FTX, informed US Chapter Choose John Dorsey in Delaware.
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Mr Dietderich mentioned that the recovered funds don’t embrace property seized by the Securities Fee of the Bahamas, the place FTX was primarily based and the place Mr Bankman-Fried was dwelling on the time of his arrest.
Most of FTX’s prospects and traders who’re dealing with losses haven’t been named within the hearings.
Nevertheless, American soccer star Tom Brady, his former spouse Giselle Bündchen and New England Patriots proprietor Robert Kraft have been talked about in courtroom filings.
In December the 30-year-old was arrested within the Bahamas and extradited to the US. He has been accused of committing “one of many greatest monetary frauds in US historical past.”
FTX, which a yr in the past was valued at $32bn, filed for chapter safety on 11 November. It has been estimated that $8bn of buyer’s funds was lacking.
US federal prosecutors have accused Mr Bankman-Fried of misappropriating FTX prospects’ funds to pay money owed at his cryptocurrency buying and selling agency Alameda Analysis and to make different investments.
In December prosecutors introduced eight prison prices, together with wire fraud, cash laundering and marketing campaign finance violations. Monetary regulators have additionally introduced claims in opposition to Mr Bankman-Fried.
FTX co-founder Gary Wang and Caroline Ellison, the previous head of Alameda, have additionally been charged over their alleged roles within the firm’s collapse. Authorities mentioned they have been each cooperating with the investigation.
In late December Mr Bankman-Fried was launched from detention on $250m bail provided that he doesn’t depart his dad and mom’ dwelling in California.
In an interview with BBC News earlier than his arrest, he mentioned: “I did not knowingly commit fraud. I do not suppose I dedicated fraud. I did not need any of this to occur. I used to be definitely not almost as competent as I assumed I used to be.”
