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As of the end of 2023, FTX's cash reserves have increased to $4.4 billion.

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Post time 13-2-2024 04:33:14 | Show all posts |Read mode
FTX is selling off cryptocurrency assets and accumulating cash as bankruptcy advisers seek a way to repay customers whose accounts have been frozen since the platform collapsed in 2022. According to monthly operating reports under Chapter 11 of the U.S. Bankruptcy Code, FTX's four largest subsidiaries, including FTX Trading Ltd. and Alameda Research LLC, nearly doubled their cash reserves by the end of 2023, rising from around $2.3 billion in late October to $4.4 billion. If other subsidiaries are taken into account, the company's total cash holdings may be even higher. In a court filing last month, the company stated that as of December 8, FTX raised $1.8 billion by selling part of its digital assets. FTX also mentioned engaging in Bitcoin derivatives trading to hedge against Bitcoin risk exposure, generating additional income from its digital assets, and exploring the possibility of restarting the exchange.
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Post time 13-2-2024 04:50:40 | Show all posts
The cash reserves are quite substantial.
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Post time 13-2-2024 04:54:26 | Show all posts
Why does this company hoard so much cash?
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Post time 13-2-2024 07:41:16 | Show all posts
They must be prepared for a significant trading volume.
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Post time 13-2-2024 08:27:29 | Show all posts
The possibility of that is something to keep an eye on.
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