The company’s new management, which took over when FTX founder Sam Bankman-Fried resigned Nov. 11, told a procedural hearing on Tuesday that it had over $1 billion in assets identified. The company located about $720 million in cash assets, which the exchange has yet to consolidate, in U.S. financial institutions authorized to hold funds by the U.S. Department of Justice. Another near $500 million is already being held in U.S. institutions.
Source: https://www.coindesk.com/policy/2022/12/20/ftx-has-over-1b-in-cash-creditor-meeting-told/?utm_medium=referral&utm_source=rss&utm_campaign=headlines