The company tasked with locking down the assets of the failed cryptocurrency exchange FTX said they've managed to recover and secure US$740 million in assets so far, a fraction of the potential billions of dollars likely missing from the company's coffers.
The numbers were disclosed on Wednesday in court filings by cryptocurrency custodial company BitGo, which FTX hired in the hours after the company filed for bankruptcy on November 11.
The biggest worry for many of FTX's customers is they'll never see their money again. FTX failed because its founder and former CEO Sam Bankman-Fried and his lieutenants used customer assets to make bets in Bankman-Fried's trading firm, Alameda Research. Bankman-Fried was reportedly looking for upwards of $8 billion from new investors to repair the company's balance sheet.
The US$740 million figure is from Nov. 16, and since then additional assets have been steadily been recovered.
The assets recovered by BitGo are now locked in what is known as "cold storage" in South Dakota, which means they're cryptocurrencies stored on hard drives not connected to the Internet. BitGo provides what is known as "qualified custodian" services under South Dakotan state law. It's basically the crypto equivalent of financial fiduciary, offering segregated accounts and other security services to lock down digital assets.
The assets recovered include not only Bitcoin and Ethereum, but also a collection of minor cryptocurrencies that vary in popularity, such as the Shiba Inu coin.
California-based BitGo has a history of recovering and securing assets. They were tasked with securing assets after the cryptocurrency exchange Mt. Gox failed in 2014. The company is also the custodian for the assets held by the government of El Salvador.
Procurement Minister and newly appointed Quebec lieutenant Jean-Yves Duclos is warning the NDP that the dental care program it helped put into place will be in jeopardy if it pulls its support from the governing Liberals.
A morning cup of coffee may do more than just perk you up, according to new research.
In less than two months, Americans will go to the polls to choose their next president. But the process that translates those millions of votes into one seat in the Oval Office is much more complicated than a straight tally.
If your child sometimes has trouble sleeping, it may be easy to chalk it up to a phase they will grow out of one day. But a new study suggests possible serious consequences for this line of thought — such as a higher risk for suicidal ideation or attempts when they are older.
Body mass index, a long-time tool used to measure a person's health, may soon be out the door as some health professionals push for a system they say is more accurate.
Marxist lawmaker Anura Kumara Dissanayake on Sunday claimed he had won Sri Lanka’s presidential election.
Kate, the Princess of Wales, made her first public appearance Sunday since she announced she had completed chemotherapy and would return to some public duties.
Hezbollah launched more than 100 rockets early Sunday across a wider and deeper area of northern Israel, with some landing near the city of Haifa, as Israel launched hundreds of strikes on Lebanon. The sides appeared to be spiraling toward all-out war following months of escalating tensions.
Infectious disease physician Dr. Isaac Bogoch says whooping cough is most risky for unvaccinated infants, children and older people.
The British Columbia election campaign is set to officially start today, with Lt.-Gov. Janet Austin issuing the writ for the Oct. 19 vote.
A man is facing numerous drug trafficking charges after Dufferin OPP seized a large assortment of drugs and weapons in Orangeville earlier this week.
Pasquale Monaco says he’s debating whether to keep renting out the two-bedroom basement apartment of the Montreal building he owns after it was flooded — again — in August, when the remnants of tropical storm Debby sent four feet of water rushing into the space.
Infectious disease physician Dr. Isaac Bogoch says whooping cough is most risky for unvaccinated infants, children and older people.
The London Police Service (LPS) is currently investigating a suspicious death in the east end.
One person has died following a shooting in Scarborough late last night.
Donald Trump has long pledged to deport millions of people, but he's bringing more specifics to his current bid for the White House: invoking wartime powers, relying on like-minded governors and using the military.
An explosion in a coal mine in eastern Iran killed at least 33 workers and injured 17 others, officials said Sunday, marking one of the worst mining disasters in the country's history as others remained missing hours after the blast.
In less than two months, Americans will go to the polls to choose their next president. But the process that translates those millions of votes into one seat in the Oval Office is much more complicated than a straight tally.
A two-story building collapsed in the southern Italian province of Naples early Sunday, killing two young siblings and leaving their mother and an older woman trapped, firefighters said.
Marxist lawmaker Anura Kumara Dissanayake on Sunday claimed he had won Sri Lanka’s presidential election.
Kate, the Princess of Wales, made her first public appearance Sunday since she announced she had completed chemotherapy and would return to some public duties.
Prime Minister Justin Trudeau is set to be in New York this week for the 78th meeting of the United Nations General Assembly and the Summit of the Future amid increasing geopolitical instability around the world.
A $2.14-billion federal loan for an Ottawa-based satellite operator has Canadian politicians arguing about whether American billionaire Elon Musk poses a national security risk.
Procurement Minister and newly appointed Quebec lieutenant Jean-Yves Duclos is warning the NDP that the dental care program it helped put into place will be in jeopardy if it pulls its support from the governing Liberals.
Body mass index, a long-time tool used to measure a person's health, may soon be out the door as some health professionals push for a system they say is more accurate.
Infectious disease physician Dr. Isaac Bogoch says whooping cough is most risky for unvaccinated infants, children and older people.
A morning cup of coffee may do more than just perk you up, according to new research.
If something looks too good to be true, it might be. That's the message from Saskatchewan horticulturists after customers have come into their stores hoping to buy purple apple trees this month.
The owner of the shuttered Three Mile Island nuclear power plant said Friday that it plans to restart the reactor under a 20-year agreement that calls for tech giant Microsoft to buy the power to supply its data centers with carbon-free energy.
Lebanese authorities on Thursday banned walkie-talkies and pagers from being taken on flights from Beirut airport, the National News Agency reported, after thousands of such devices exploded during a deadly attack on Hezbollah this week.
A Nova Scotian YouTuber has launched a mini-truck bookmobile.
Kathryn Crosby, who appeared in such movies as 'The 7th Voyage of Sinbad', 'Anatomy of a Murder,' and 'Operation Mad Ball' before marrying famed singer and Oscar-winning actor Bing Crosby, has died. She was 90.fff
'Saturday Night Live' will have a slew of famous faces to help kick off its historic 50th season when the show returns later this month.
It’s not easy going up against Canada’s banking oligopoly, but some are trying.
It is not a great time to be a coffee drinker. In general, coffee bean prices are the highest they've been in more than a decade.
The maker of the popular party game Cards Against Humanity is accusing Elon Musk's SpaceX of trespassing on and damaging a plot of vacant land the company owns in Texas.
More than 2,200 zoo professionals from 23 different countries have gathered in Calgary for the annual Association of Zoos and Aquariums conference.
Tattoos are becoming more common in today's society and, as a result, appear to be more acceptable in the workplace than they used to be.
The end of the day — when school, extracurricular activities and homework are (hopefully) finally done — is the window that many kids have for downtime. It can be a struggle to convince them not to go on their phones.
The Winnipeg Blue Bombers have a nickname for the opposition’s end zone. They refer to it as the “chicken box.â€
Jonathan Aranda homered for the second consecutive game, helping Taj Bradley and the Tampa Bay Rays beat the Toronto Blue Jays 3-2 on Saturday.
Kiefer Sherwood spent several nights last spring chasing Quinn Hughes around the ice and generally pestering the Vancouver Canucks.
General Motors (GM) has issued a recall for 38,000 vehicles for safety risks related to a software glitch, Transport Canada reported in a notice on Wednesday.
Chechen leader Ramzan Kadyrov has accused Tesla CEO Elon Musk of 'remotely disabling' his Cybertruck, which had been sent to the frontline of Russia's war in Ukraine.
An Ontario man says it is 'unfair' to pay a $1,500 insurance surcharge because his four-year-old SUV is at a higher risk of being stolen.
Cole Haas is more than just an avid fan of the F.W. Johnson Wildcats football team. He's a fixture on the sidelines, a source of encouragement, and a beloved member of the team.
Getting a photograph of a rainbow? Common. Getting a photo of a lightning strike? Rare. Getting a photo of both at the same time? Extremely rare, but it happened to a Manitoba photographer this week.
An anonymous business owner paid off the mortgage for a New Brunswick not-for-profit.
They say a dog is a man’s best friend. In the case of Darren Cropper, from Bonfield, Ont., his three-year-old Siberian husky and golden retriever mix named Bear literally saved his life.
A growing group of brides and wedding photographers from across the province say they have been taken for tens of thousands of dollars by a Barrie, Ont. wedding photographer.
Paleontologists from the Royal B.C. Museum have uncovered "a trove of extraordinary fossils" high in the mountains of northern B.C., the museum announced Thursday.
The search for a missing ancient 28-year-old chocolate donkey ended with a tragic discovery Wednesday.
The Royal Canadian Mounted Police is celebrating an important milestone in the organization's history: 50 years since the first women joined the force.
It's been a whirlwind of joyful events for a northern Ontario couple who just welcomed a baby into their family and won the $70 million Lotto Max jackpot last month.
A six-year-old girl who was reported missing in northern B.C. earlier this week remains unaccounted for, and "significant resources from across the province" have joined in the search, police said Saturday.
Volunteers and staff members gathered along Vancouver’s Stanley Park Seawall Saturday to pick up litter as part of International Coastal Cleanup Day.
A heritage home in Vancouver suffered "extensive damage" in a fire that broke out late Saturday morning, according to firefighters.
One person has died following a shooting in Scarborough late last night.
Toronto police have arrested three people and they are looking for two others in connection with an alleged fraud that saw a man and his daughter bilked out of more than $18,000.
A man who was critically injured in an eight-vehicle pileup in Milton Friday has died of his injuries in hospital.
Milla White from Cochrane literally drew her way into a meeting with former boxer and actor Mickey Rourke.
Kate, the Princess of Wales, made her first public appearance Sunday since she announced she had completed chemotherapy and would return to some public duties.
The water coming from your taps might be a bit murky Saturday, but Calgary remains on schedule to end all water restrictions on Sunday.
A potential move to LeBreton Flats for the Ottawa Senators is still years away, but questions and concerns are already being raised about what to do with the Canadian Tire Centre.
The Taste of Wellington 2024 wraps up Saturday in Ottawa.
A body has been found in the vicinity where a woman went missing on the Ottawa River near Pembroke, Ont. while kayaking Tuesday night, according to the Ontario Provincial Police (OPP).
Pasquale Monaco says he’s debating whether to keep renting out the two-bedroom basement apartment of the Montreal building he owns after it was flooded — again — in August, when the remnants of tropical storm Debby sent four feet of water rushing into the space.
A 19-year-old man is in critical condition after being stabbed in Montreal on Saturday.
Provincial police (SQ) is investigating the discovery of an unresponsive body in Saint-Gabriel-de-Brandon, in the Lanaudière region.
The Winnipeg Blue Bombers have a nickname for the opposition’s end zone. They refer to it as the “chicken box.â€
The Edmonton Police Service is looking for a person of interest in connection with a suspicious fire that destroyed a multi-unit building and damaged several townhomes earlier this week.
Kate, the Princess of Wales, made her first public appearance Sunday since she announced she had completed chemotherapy and would return to some public duties.
A proposal for additional parking to accommodate upgrades at the Irving Pulp & Paper Mill in Saint John, N.B., would add an estimated 500 parking spots at Wolastoq Park.
A Nova Scotian YouTuber has launched a mini-truck bookmobile.
If your child sometimes has trouble sleeping, it may be easy to chalk it up to a phase they will grow out of one day. But a new study suggests possible serious consequences for this line of thought — such as a higher risk for suicidal ideation or attempts when they are older.
The search for a missing six-year-old boy in Shamattawa is continuing Friday as RCMP hope recent tips can help lead to a happy conclusion.
A herd of dogs paid visit to patients and residents at Riverview Health Centre during an annual event that lifts spirits and wags tails.
While slang may come and go, experts say the phenomenon behind them, which constantly churns out brand-new bon mots, is as old as language itself.
Fire officials are investigating after a fire completely destroyed the community fridge in the Cathedral neighborhood.
The last two months after losing her daughter Bella have been extremely difficult for Kyla Thomson.
Regina police arrested three youths in connection to a bear mace incident at a Regina high school on Friday.
The Cambridge Professional Fire Fighters’ Association held their annual Muscular Dystrophy Boot Drive on Saturday.
Protests were held in front of Kitchener City Hall on Friday, both for and against LGBTQ2S+ inclusive education and queer rights in schools.
Police said the pedestrian, a 52-year-old man, was taken to an out-of-region hospital with life-threatening injuries and the driver of the vehicle failed to remain at the scene.
The 75-year-old building, formerly the Waskesiu Chamber of Commerce building, was relocated to the Parks Canada compound on the edge of the townsite.
Saskatchewan RCMP major crimes unit is investigating after a man’s body was found on Sweetgrass First Nation.
Motors were roaring, and tires were spinning as Saskatoon's biggest names in motocross gathered together for the 50-year anniversary of the club's founding on Saturday.
Ontario’s police watchdog is investigating after an Ontario Provincial Police officer discharged his firearm at a 36-year-old man in near Moonbeam, Ont., on Friday night.
Procurement Minister and newly appointed Quebec lieutenant Jean-Yves Duclos is warning the NDP that the dental care program it helped put into place will be in jeopardy if it pulls its support from the governing Liberals.
For some young people, a popular method for getting a quick high is by misusing laughing gas — and lately, that’s in the form of nitrous oxide from products sold by the company Galaxy Gas.
The identity of a motorcyclist has been revealed by loved ones on social media following Friday’s fatal south end collision in London. The London Police Service has not released anything regarding the driver’s identity.
Huron County OPP are investigating a serious single vehicle collision that took place west of Seaforth.
The Chatham-Kent Police Service (CKPS) has arrested a man following an incident on Saturday.
The Barrie Skateboard Association (BSA) hosted a unique competition at the City's Skate Park on Saturday to celebrate its 25th anniversary, which showcased the park's importance and the growth of skateboarding in the region.
Police located and arrested a male suspect Saturday evening in relation to an alleged assault incident that occurred earlier this week in Gooderham.
A man is facing numerous drug trafficking charges after Dufferin OPP seized a large assortment of drugs and weapons in Orangeville earlier this week.
The Amherstburg Uncommon Festival is living up to its name with the addition of a drone light show — a first for Essex County.
The Chatham-Kent Police Service (CKPS) has arrested a man following an incident on Saturday.
A disturbance in Ridgetown has led to charges, according to the Chatham-Kent Police Service (CKPS).
A man who was found dead behind a curling rink in Nanaimo, B.C., earlier this month was the victim of a homicide, police confirmed.
A sea lion swam free after a rescue team disentangled it near Vancouver Island earlier this week.
A six-year-old girl who was reported missing in northern B.C. earlier this week remains unaccounted for, and "significant resources from across the province" have joined in the search, police said Saturday.
A pair of runaway pigs are in the custody of an animal sanctuary in the Okanagan after evading police and volunteers for hours earlier this week.
The Red Bridge, a historic landmark in Kamloops, B.C., was completely destroyed by fire early Thursday morning.
Animal protection officers in British Columbia have rescued three pit bulls – including one that gave birth to 10 puppies – from a rat-infested home in Kelowna.
Despite the heavy rain, plenty of muscle turned up for United Way’s annual Pull the Bus fundraiser in Lethbridge Friday.
Lethbridge County has rescinded its fire restriction as a result of the recent cool, wet weathr.
The Lethbridge Hurricanes kicked off the 2024-25 season on a winning note Friday night, defeating the Edmonton Oil Kings 3-1 in a game played at VisitLethbridge.com Arena.
A northern Ontario man is facing a $12,000 fine after illegally shooting a moose near the Batchawan River.
Following an outbreak of COVID-19 on its continuing care floor and just ahead of the flu season, St. Joseph’s General Hospital in Elliot Lake has opted to re-introduce a universal masking policy until further notice.
A 26-year-old driver from Surrey, B.C., has been charged with three counts of criminal negligence causing death and bodily harm in a crash that killed two youths in northern Ontario last year.
Newfoundland and Labrador sponsored a minor football team in England, now they’re about to play one of the biggest clubs in European soccer.
Newfoundland and Labrador's chief medical officer is monitoring the rise of whooping cough infections across the province as cases of the highly contagious disease continue to grow across Canada.
A 16-year-old biennial event aimed at fostering business in the country's eastern Arctic and northern regions has been cancelled indefinitely as a dispute unfolds between Inuit in Canada and a Labrador group claiming to share their heritage.
The Shopping Trends team is independent of the journalists at Â鶹´«Ã½. We may earn a commission when you use our links to shop. Read about us.
