Failed cryptocurrency exchange FTX managed to recover more than $7.3 billion in cash and liquid assets in digital currencies, up $800 million more than in January, its lawyer for the company said at a US bankruptcy court hearing in Delaware.

This is reported by Reuters news agency and moneyreview.gr. FTX attorney Andy Diedrich said the company is beginning to consider its future after months of efforts to gather resources and figure out what went wrong under the indicted former founder Sam Bankman-Fried, who pleads not guilty.

Giving details, the lawyer emphasizes that now the situation has stabilized. It is worth noting that, based on the latest evidence unearthed, senior FTX executives have shown arrogance, arrogance and complete irresponsibility in good times because they did not know how much money was being managed or where it was going. During the exchange, even the minimum necessary accounting control was not provided. According to Andy Diedrich, FTX has benefited from the recent rise in prices in the cryptocurrency market. The platform’s total valuation is estimated at $6.2 billion based on prices as of November 2022, when it filed for bankruptcy, after investors withdrew $6 billion from the platform in three days and rival currency exchange Binance withdrew from the bailout agreement. According to a Reuters report, FTX’s new CEO John Ray detailed illegal fund transfers and poor accounting on the collapsed cryptocurrency exchange. Looking to the future, the company is in talks with stakeholders about options to restart the cryptocurrency exchange and may make a decision on this in the current quarter, its lawyer Andy Diedrich said.

He didn’t say much about what the reset could mean for FTX clients whose crypto deposits were frozen in the bankruptcy process. However, until now, customers in Japan have been the only ones able to withdraw money due to the country’s strict regulations. Finally, Mr. Diedrich stressed that the FTX cryptocurrency platform will need significant capital to restart the exchange. “The app worked great, but it was really a storefront,” her lawyer said.