FTX insolvency application shows a higher cash stock of USD 1.43 billion, fewer employees

FTX insolvency application shows a higher cash stock of USD 1.43 billion, fewer employees

A preliminary financial recent show showed that the FTX group of companies, which is located in insolvency proceedings, kept $ 1.43 billion in cash at the end of last year.

The court file viewed by Bloomberg showed a higher cash stock on December 31, 2022 than $ 1.24 billion on November 20th.

• The now dissolved sister trade company Alameda Research recorded a cash stock of $ 876.6 million compared to $ 401 million in November.
• In addition, the number of employees of the competitive group fell from 320 to 195 by the end of the year when FTX applied for insolvency protection in accordance with Chapter 11 in the United States.
• her former boss, Sam Bankman-Fried, not guilty of fraud allegations that were raised against him by the country's supervisory authorities. He was released against a deposit of $ 250 million, which was secured by his parents' house in the area of Palo Alto.
• The new owners of FTX are working to handle the affairs of up to 134 companies around the world.
• Meanwhile, the US Ministry of Justice (DOJ) claimed that Bankman-Fried tried to contact FTX Us General Counsel Ryne Miller via the encrypted Messaging app Signal and possibly to "influence".
• This prompted the public prosecutors to make an application that changed the deposit conditions of the released founder to prevent contact with FTX employees and the use of applications such as signal.
• Bankman-Fried has also tried to organize a personal meeting with his current CEO John Ray in recent weeks, as can be seen from the text and email messages published by the public prosecutor.
• The events after the FTX explosion have caused considerable damage to the cryptom market and the call of the sector. Supervisory authorities around the world are now pushing for the establishment of further guardrails to protect against investor damage and risk of infection.

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