BitGo Cryptocurrency custodian company recovers USD 1 billion of failed exchange FTX.
FTX failed because its founder and former
CEO Sam Bankman-Fried
and his lieutenants used customer assets to make bets in
closely related trading firm, Alameda Research.
The company tasked with locking down the assets of the failed
cryptocurrency exchange FTX
says it has managed to recover and secure
USD 740 million.