Investing.com - Financial Markets Worldwide
⚠ NVDA Q3 Earnings Alert: Why our AI stock picker is still holding Nvidia stockRead More

FTX Bankruptcy: OKX, Okcoin Will Return $165M in Frozen Assets

Published 03/30/2023, 07:40 AM
Updated 03/30/2023, 08:00 AM
FTX Bankruptcy: OKX, Okcoin Will Return $165M in Frozen Assets

  • OKX will return $157 million in frozen assets related to Alameda and FTX.

  • Affiliated exchange Okcoin will return $8.2 million in frozen assets.

  • The FTX debtors filed a motion seeking court approval to transfer the assets.
As the FTX bankruptcy unfolds, there’s at least some good news for depositors. A major exchange and its affiliate are working to return FTX’s frozen millions, so they can ultimately find their way to creditors and depositors.

OKX is cooperating with FTX and Alameda bankruptcy estates to return $157 million in frozen assets, the exchange said on Wednesday. Its affiliated exchange Okcoin also released a statement saying it will return $8.2 million.

The announcements come after FTX debtors filed a motion in the U.S. bankruptcy proceedings. The motion asked for approval for...

Continue Reading on DailyCoin

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.