FTX holds $1.24 billion cash balance ahead of bankruptcy hearing

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Reuters UK

By Dietrich Knauth and Tom Wilson NEW YORK/LONDON (Reuters) -FTX has a total cash balance of $1.24 billion, a court filing by advisers on the stricken crypto exchange’s restructuring showed ahead of U.S. bankruptcy hearings set for later on Tuesday. The collapse of FTX, once one of the world’s largest cryptocurrency exchanges, has left an estimated 1 million creditors facing losses totaling billions of dollars. Its cash balance as of Sunday was “substantially higher” than previously thought, Monday’s filing by Edgar Mosley of Alvarez & Marshal, a consultancy firm advising FTX, said. It include…

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