Ongoing efforts reclaim assets from Clearpool, Sushiswap; $14.5B-$16.3B recovered for October wind-down plan.
Nearly two years after the collapse of FTX, the estate is still actively working to recover funds that were mismanaged by the previous administration. This month alone, over $10 million has been recovered from various protocols, including Clearpool and Sushiswap. These efforts are part of a broader initiative to reclaim assets and repay creditors.
As of May, the FTX estate had successfully recovered assets valued between $14.5 billion and $16.3 billion. This substantial recovery is crucial for the estate's plan to compensate those affected by the bankruptcy. The ongoing efforts highlight the complexity and challenges involved in tracing and reclaiming assets in the cryptocurrency space.
The estate is currently preparing to make repayments to creditors. These repayments are expected to begin after the approval of the wind-down plan in October. This plan outlines how the estate will manage and distribute the recovered assets to ensure fair compensation for all parties involved.
Alameda Research, a key player in the FTX ecosystem, still holds significant assets. Notably, their wallets contain $64 million in Worldcoin tokens. The management of these assets will be crucial in the final stages of the recovery process, as they represent a substantial portion of the estate's remaining value.
