Bankrupt Crypto Exchange FTX had Around $1.4B Cash at 2022-End
Bankrupt cryptocurrency exchange FTX had around $1.4 billion in cash as of the end of 2022, according to an interim financial update filed on Wednesday.
The figure is around 19% higher than the $1.2 billion reported in November when FTX filed for bankruptcy.
Amongst the various arms Sam Bankman-Fried's fallen crypto empire, FTX.US has $260 million in cash. Bankman-Fried has repeatedly claimed that the U.S. wing is solvent. Last month he blogged that FTX US "had at least $111m, and likely around $400m, of excess cash on top of what was required to match customer balances."
"Customer balances are likely around $199m, and certainly less than $497m (which they were a day earlier before massive withdrawals)," he added.
According to the latest update, FTX's headcount has dropped from 320 at the time of bankruptcy to 195 by year-end.
Following FTX's bankruptcy last year, Bankman-Fried was arrested and is currently on bail facing charges including wire fraud and money laundering. He has pleaded not guilty, with the trial set for October.
Read more: US Senators Press Crypto Bank Silvergate on Ties to FTX: Bloomberg