There may at least be some hope for users and creditors who lost a lot of money in the collapse of the crypto exchange FTX.
The insolvency administrator has found previously unregistered assets in the billions at the company.
As Andrew Dietderich, who was commissioned by a US court, noted in the documentation of the proceedings, cash, cryptocurrency units, and securities have so far been discovered and seized, the value of which amounts to around 5 billion dollars according to current prices.
However, Dietderich did not give any more precise information about the exact way in which the values were found.
At the end of last year, the authorities in the Bahamas, where the company's headquarters are located, announced that they had found and seized assets worth $3.5 billion.
The funds now found at the US subsidiary are on top of that. But even these are not enough to repay the deposits of all users and the debts to various creditors.
Even more money in sight
But the insolvency administrator, who comes from the law firm Sullivan & Cromwell, was already hoping for more.
Even if no final closing can be reported here, one is on a good course to sell further assets with a value of 4.6 billion dollars in order to get even more liquid funds in the coffers.
However, the insolvency administrator had previously pointed out that it is extremely complicated to fight your way through the FTX accounting since the work here was extremely sloppy.
He, therefore, had to point out again that to this day there is still no definitive overview of how high the outstanding balances and credit balances of users are at all.
Meanwhile, the argument about how the found funds will be divided is already flaring up.
That should also depend on whether the crypto assets formally became the property of the exchange when they were transferred to the FTX account.