Collapsed crypto trade FTX has about $1.24 billion of hard cash in whole — but nevertheless owes at the very least $3.1 billion

Collapsed crypto trade FTX has about .24 billion of hard cash in whole — but nevertheless owes at the very least .1 billion

Critical Factors

Alvarez & Marsal, which is advising FTX, explained teams recognized “significantly better dollars balances” than were being in the beginning identified.
The all round harmony of $1.24 billion nonetheless represents a marked shortfall on the billions FTX owes its lenders.
A separate filing on Saturday claimed FTX owed $3.1 billion to its largest 50 unsecured lenders.
FTX’s new management is envisioned surface in courtroom later Tuesday to recount the functions that led up to its sudden collapse.

Source

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