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FTX Negotiates for Return of $400 Million From Obscure Hedge Fund



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Federal prosecutors in Manhattan have also seized assets they contend were acquired with money misappropriated from FTX’s customer accounts. Last month, the prosecutors disclosed that they had seized more than $600 million in assets belonging to Mr. Bankman-Fried, including cash and stocks kept in bank and brokerage accounts.It’s unclear why prosecutors have not seized the Modulo funds at JPMorgan. Representatives for FTX, JPMorgan and the U.S. attorney’s office for the Southern District of New York declined to comment. A representative for Modulo’s two founders, Duncan Rheingans-Yoo and Xiaoyun Zhang, known as Lily, said they declined to comment.FTX filed for bankruptcy in November after a run on deposi …

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