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FTX Has Over $1B in Cash, Creditor Meeting Told

by Jack Schickler
December 20, 2022
in Cryptocurrency
Reading Time: 1 min read
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The company’s new management, which took over when FTX founder Sam Bankman-Fried resigned Nov. 11, told a procedural hearing on Tuesday that it had over $1 billion in assets identified. The company located about $720 million in cash assets, which the exchange has yet to consolidate, in U.S. financial institutions authorized to hold funds by the U.S. Department of Justice. Another near $500 million is already being held in U.S. institutions.



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Tags: CashCreditorFTXmeetingTold
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