4 months ago
2 mins read
U.S. Courts Seek to Take Control of $7.3B in FTX Assets Amid Bankruptcy
In a recent bankruptcy hearing, a federal judge dismissed a request to transfer control of embattled crypto exchange FTX’s $7.3 billion disputed assets to a foreign court. The decision dashed the hopes of Bahamian liquidators seeking to stake a claim on some of these assets, as U.S. Bankruptcy Judge John Dorsey emphasized the core jurisdictional issue of asset ownership. The hearing, held at the U.S. Bankruptcy Court for the District of Delaware, shed light on a contentious point between the parties involved in the case: the ownership of FTX’s significant cryptocurrency and cash assets. During the bankruptcy hearing, the primary