FTX Group’s filing for bankruptcy showed the collapsed cryptocurrency exchange and several affiliated firms had a combined cash balance of $1.24 billion.
The document of Alvarez & Marsal North America LLC, recommended as financial advisor to FTX, states that trading company Alameda Research and related firms have cash balances of approximately $401 million. Earlier court documents showed that FTX affiliates owed a total of $3.1 billion to its top 50 unsecured creditors.
FTX Appears to Have $1.24 Billion in Cash Filed for Bankruptcy
FTX Group’s filing for bankruptcy revealed that the collapsed cryptocurrency exchange and several affiliated firms had a combined cash balance of $1.24 billion.
Sam Bankman-Fried’s FTX empire plunged into chaotic bankruptcy on November 11, potentially leaving more than a million creditors and creating turmoil in the crypto industry.
Among the FTX exchange platforms, it was stated that the cash balance of FTX Japan is $ 171.7 million. It is reported in the file that Alameda Research and related companies also have a cash balance of approximately $401 million.
The filing states that the final count as of November 20 “identifies cash balances that are significantly higher than debtors were able to prove as of Wednesday, November 16.”
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