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FTX Group Only $1.24 Billion Cash Balance Left

According to a recent court document, FTX Group had a combined cash balance of $1.24 billion as of November 20.

An updated breakdown of the group’s cash holdings is included in the file, submitted late Monday by Alvarez & Marsal North America LLC, the prospective financial advisor to FTX Group. It states that the most recent data have much greater cash balances than the debtors were in a position to verify as of November 16.

The Alameda silo, dotcom silo, ventures silo, and West Realm Shires (WRS) silo all have cash balances that contain both their debtor and no-debtor firms. According to the petition, $751 million is owned by debtor businesses, while the remaining $488 million is held by non-debtor entities.

FTX Japan had a cash balance of $171.7 million, while controversial trading firm Alameda Research and related firms’ cash balances total nearly $401 million, according to a Bloomberg report.

Earlier, a document from its Chapter 11 bankruptcy protection proceedings revealed that FTX owes its 50 largest creditors nearly $3.1 billion. The top ten creditors alone are each owed more than $100 million by the bankrupt company. They owe a total of $1.45 billion.

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Harold

Coincu New

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.