Late yesterday, a US court approved the sale of certain investment assets and subsidiaries, which could allow FTX creditors to recover more assets.

According to The Block Research, FTX and Alameda have collectively spent about $5.3 billion on 473 investments through multiple subsidiaries, with a wide range of investments. However, the bankruptcy court also approved the removal of FTX Turkey from the bankruptcy case, and according to foreign media reports, the Turkish government seized most of FTX Turkey's assets in Turkey just days after FTX filed for bankruptcy.

The previous day (February 13), a judge in the U.S. District of Manhattan put on hold a civil lawsuit by the U.S. Securities and Exchange Commission (SEC) and the U.S. Commodity Futures Trading Commission (CFTC) against Sam Bankman-Fried, founder and former CEO of cryptocurrency exchange FTX. Until the criminal case against the bankrupt exchange is closed.

The Justice Department asked for a stay of the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) lawsuits against Sam Bankman Fried. The motion was granted by U.S. District Judge Kevin Castel in Manhattan.

It is common for the SEC and CFTC to suspend proceedings when the Justice Department brings parallel criminal cases.

Prosecutors argued it was necessary to delay the civil proceedings because the cases overlapped significantly and because the outcome of the criminal case could affect remaining issues in the civil case. And Bankman Fried may have gathered evidence in a civil case and improperly challenged government witnesses, or circumvented disclosure rules in a criminal case, tailoring a criminal defense.

Bankman Fried agreed to put the civil case on hold.