FTX plans to generate billions of dollars just from lawsuits and legal claims amid bankruptcy and organizational restructuring. The embattled cryptocurrency exchange is currently in the middle of more than a dozen lawsuits, according to The Wall Street Journal.
FTX to recover billions from current lawsuits
Bankrupt cryptocurrency exchange FTX is right now in an $8 billion fraud lawsuit, which led to the exchange losing most of its assets. However, it plans to recover all the money spent by raising claims in the lawsuit. If the current legal battles go through and are in favor of the debt-laden exchange operator, it could result in billions of dollars in retrieval for FTX.
More to come in 2024
Apart from the current and ongoing legal claims, the crypto exchange also plans to pursue more lawsuits in 2024, WSJ noted in its report.
Many analysts, including Alan R. Rosenberg, a partner at Markowitz Ringel Trusty & Hartog, estimate that the saga of legal battles for FTX will go on longer
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