FTX Crypto Customers Worry They Will Never See Their Money Again – WSJ

Customers of beleaguered crypto exchange FTX are losing hope they will ever see their money again.

The company s massive financial problems began spilling into the open early this month, and FTX was quick to halt withdrawals from its international unit. American customers had hoped they might be luckier, but many of them haven t been able to get their money out either.

My blood is boiling, said Matthew Way, a fundraiser for an Illinois orchestra who has about $1,800 stuck at FTX.

Where the money could be and whether it will ever arrive is anyone s guess. FTX filed for bankruptcy on Nov. 11. John J. Ray, the company s new CEO who also unwound Enron, said in a court filing Thursday that only a fraction of FTX s digital assets have been located and secured. Determining how much cash is left has been difficult too, according to the bankruptcy filings, since FTX didn t keep an accurate list of its bank accounts.

via www.wsj.com

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