# FTX Assets Recovery Update

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Last modified: 2022-11-24

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By Ivy Heffernan · 2022-11-24
Tags: Headline News, crypto, Featured, 2022, FTX, bitgo, bankmanfried
Signed: no (published before platform launch).
Nothing in this article is investment advice.

On November 11, FTX filed for bankruptcy, since then, billions have been reported lost. Today it was announced that $740 million has been recovered. 

The assets recovered have been reported in court filings and BitGo is the custodial company in charge at the moment. 

FTX used a lot of their money betting on their trading firm Alameda Research. To repair damages, CEO Bankman-Fried wanted to raise $8 Billion from new investors. 

Users at FTX now fear for their assets that were stored on the exchange. The assets recovered are not only Bitcoin and Ethereum but a variety of smaller Cryptos as well.

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