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in todays video Im just trying to be as helpful as possible this is an FTX updates on the recovery of funds and also the tax treatments of FTX losses so let me bring up the speed so you know where we are and this part of the video will be real quick Im just going to go over the necessary information that you need to know FTX filed for chapter 11 bankruptcy on November 11th Sam bickman freed was arrested on December 12th in the Bahamas and extradited to the U.S on January 3rd SPF pleaded not guilty to eight criminal charges including wire fraud and conspiracy to defraud investors January 11th ftxs attorney told the Delaware bankruptcy courts that FTX has recovered more than 5 billion dollars worth of crypto and cash however advisors to FTX say that it will be difficult to sell their crypto Holdings without tanking the price of those cryptos therefore if they say five billion dollars worth then upon liquidation then its probably going to be worth much less additionally FTX will sell
