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

The corporate’s new administration, which took over when FTX founder Sam Bankman-Fried resigned Nov. 11, instructed a procedural listening to on Tuesday that it had over $1 billion in belongings recognized. The corporate positioned about $720 million in money belongings, which the change has but to consolidate, in U.S. monetary establishments approved to carry funds by the U.S. Division of Justice. One other close to $500 million is already being held in U.S. establishments.