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FTX has a total cash balance of $1.24 billion, a court filing by advisers on the stricken crypto exchange's restructuring showed ahead of U.S. bankruptcy hearings set for later on Tuesday.

The collapse of FTX, once one of the world's largest cryptocurrency exchanges, has left an estimated 1 million creditors facing losses totaling billions of dollars.

Its cash balance as of Sunday was "substantially higher" than previously thought, Monday's filing by Edgar Mosley of Alvarez & ..

Read more at: Reuters has reported Bankman-Fried secretly used $10 billion in customer funds to prop up his trading business, and that at least $1 billion of those deposits had vanished.


FTX's fall from grace has sent shivers through the crypto world, driving bitcoin to its lowest level in around two years and triggering fears of contagion among other firms already reeling from the collapse in the crypto market this year.
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https://economictimes.indiatimes.com/markets/cryptocurrency/ftx-holds-1-24-bln-cash-balance-before-bankruptcy-hearing/articleshow/95692405.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppstFTX holds $1.24 bln cash balance before bankruptcy hearing

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