FTX teams in US, Bahamas to coordinate crypto recovery efforts

FTX’s United States-based bankruptcy team have agreed to coordinate with liquidators winding down the crypto exchange’s operations in the Bahamas, resolving a dispute that threatened the recovery of what could be billions of dollars in lost funds.

In a joint statement on Friday, the two sides said they will work to share information, secure property and coordinate litigation against third parties.

FTX’s US bankruptcy team has been at odds with Bahamian officials since November, when competing bankruptcies were filed in the two countries.

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