Bloomberg: FTX’s cash reserves have increased to $4.4 billion by the end of 2023

FTX is selling off crypto assets and hoarding cash as bankruptcy advisers look for a way to repay customers whose accounts have been frozen since the platform's collapse in 2022. FTX's four largest subsidiaries - including FTX Trading Ltd. and Alameda Research LLC - nearly doubled their cash reserves at the end of 2023, from about 23% at the end of October, according to monthly Chapter 11 operating reports. billion to US$4.4 billion. The company's cash total would likely be even higher if other subsidiaries were included. As of Dec. 8, FTX had raised $1.8 billion by selling some of the company’s digital assets, the company said in a court filing last month. FTX also said it is conducting Bitcoin derivatives trading to hedge its exposure to Bitcoin and generate additional income from its digital assets, while exploring the possibility of restarting the exchange. (Bloomberg)