Okcoin to Cooperate with FTX Debtors to Return USD8.2 Million in Frozen Alameda Assets
SAN FRANCISCO, March 29, 2023 (GLOBE NEWSWIRE) -- Okcoin, one of the fastest-growing cryptocurrency platforms based in the US, announced today that it is cooperating with the FTX and Alameda bankruptcy estates to return USD8.2 million in frozen assets related to Alameda Research. The FTX debtors filed a motion in the U.S. bankruptcy proceedings seeking court approval for Okcoin to transfer the assets, and a decision from the bankruptcy court is expected in the coming weeks.
The assets were proactively identified in corporate accounts and immediately frozen by Okcoin in the aftermath of the FTX collapse. Okcoin hopes that this cooperation plays a small role in making sure those who lost funds in the FTX collapse are made whole.
Founded in 2013, Okcoin is a US-headquartered cryptocurrency exchange serving 190+ countries and territories. The platform enables retail and institutional investors to purchase 50+ digital assets using local currencies, with a mission to make crypto easy for everyone including first-time buyers. In addition, Okcoin offers institutional trading tools and APIs to asset managers, venture capital and hedge funds, retail brokers, payment processors, and more. Follow Okcoin on Twitter at @Okcoin and visit okcoin.com for more information.
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