WASHINGTON: FTX is unloading cryptoassets and hoarding cash, as bankruptcy advisers look for a way to repay customers whose accounts have been frozen since the platform collapsed in 2022.
The fraud-tainted crypto firm’s four largest affiliates – including FTX Trading Ltd and Alameda Research LLC – together nearly doubled the group’s cash pile to US$4.4bil at the end of 2023 from about US$2.3bil in late October, according to Chapter 11 monthly operating reports.
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