FTX announced that they met with the Committee of Unsecured Creditors (UCC) in their Chapter 11 bankruptcy filing and reported it publicly on their website. This indicates a deficit of $8.9 billion. for client funds
FTX seeks to recover billions of dollars from missing client funds. It has since filed for Chapter 11 bankruptcy in 2022 following allegations that Alameda Research, a Sam Bankman-Fried-founded hedge fund, had been accused of mismanagement. FTX Co-Founders Use Funds From FTX Client Accounts Without Authorization
In the report, FTX claims to have identified approximately $2.7 billion in client assets, compared to $11.6 billion in client account outstanding.
It is currently unclear if and when clients will be able to recover any funds.
refer : LINK
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