FTX Recovers $3.5B Worth of Crypto Assets Following Fiasco

• FTX has recovered $3.5 billion worth of crypto assets so far.
• The exchange is hoping to return what was taken from its customers.
• Crypto India shares the breakdown of the assets recovered.

It seems the new CEO of FTX John Ray has been hard at work trying to recover crypto assets lost during the FTX crash. Specifically, FTX has been able to recover $3.5 billion worth of crypto assets so far. 

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According to Crypto India data analytics, a breakdown of crypto assets recovered by FTX is now open knowledge. To highlight, the exchange is trying to redeem itself by recovering the billions worth of assets it lost to make it up to their customers.

In detail, these recovered assets include a miscellaneous group of cryptocurrencies. Firstly, $685 million in SOL, $529 million in FTT, $268 million in BTC, and $90 million in ETH. Adding on, $67 million in APT, $42 million in DOGE, and $39 million in MATIC. Lastly, $35 million in BIT, $31 million in TON, and $29 million of XRP. 

Other assets recovered came in the form of stablecoins. That is, $245 million recovered as stablecoins. Next, over $1.271 million came from cryptos being held at third party exchanges. This is a huge win for FTX, although they will still have a long way to go in terms of winning back the trust of the crypto community.

To put it in other terms, the value recovered so far from the tech team came from a variety of sources. For instance, over $1,761 million came from hot wallets while over $1,144 million came from BitGo cold storage. 

Meanwhile, $426 million came from the Bahamas and $140 million from FTX Japan. Lastly, $415 million hailed from hacked crypto wallets. It seems that despite the devastating state that FTX was left in, the exchange is slowly making a recovery without the presence of SBF at the wheel. 

Most importantly, it seems the crypto market is making a steady recovery as well. This is clear from watching the steady momentum of the price of Bitcoin (BTC) this week. Certainly, it seems FTX has found a way to return what belongs to their customers without having to sell altcoins and create another crypto dump state. 

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