Lawyers for failed crypto firm FTX have recovered over $5 billion in cash and other liquid assets.

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The funds will be used to repay creditors of the company.

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Funds were allegedly transferred by ex-CEO Sam Bankman-Fried from FTX to Alameda Research without permission.

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Sam Bankman has been accused of causing losses in billions of dollars to investors, lenders, and customers.

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The company was valued at $32 billion, but suffered a substantial loss after the funds were transferred.

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Sam Bankman was arrested in December 2022 on suspicion of money laundering and campaign finance violations.

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He was later released on bail of $250 million.

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Sam Bankman denies any involvement in the alleged fraud.

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The case led to the downfall of the company and loss of customer funds.

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Sam Bankman was once considered one of the youngest billionaires in the world.

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