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Cryptocurrency company FTX, which has been accused of alleged fraud, is reportedly selling its crypto assets and hoarding cash.
According to Bloomberg, the company's cash reserves have almost doubled from approximately $2.3 billion at the end of October to $4.4 billion by the end of 2023. It is estimated that the FTX company may have sold another 22 million GBTC shares worth approximately $1 billion in January.
The move comes as insolvency advisers look for ways to refund customers whose accounts have been frozen since the platform's 2022 collapse.
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According to Chapter 11 monthly activity reports, FTX Trading Ltd. and the firm's four largest subsidiaries, including Alameda Research LLC, nearly doubled the group's cash accumulation from approximately $2.3 billion at the end of October to $4.4 billion by the end of 2023. The company's total cash, including the rest of its subsidiaries, is likely higher.
FTX announced in a court filing last month that the company had raised $1.8 billion by December 8 by selling some of its digital assets. The company also stated that it conducts Bitcoin derivative transactions to hedge exposure to the cryptocurrency and generate additional returns on its digital assets. The company is also exploring options to potentially restart the exchange.
The financial summary of the two major subsidiaries from July to December 2023 is as follows:
<ul>
 <li>July 2023: Alameda Research LLC $1.4 billion and FTX Trading Ltd. He had $206.1 million.</li>
 <li>August 2023: Alameda Research LLC had $1.4 billion and FTX Trading Ltd had $234.1 million.</li>
 <li>September 2023: Alameda Research LLC had $1.4 billion and FTX Trading Ltd had $236.0 million.</li>
 <li>October 2023: Alameda Research LLC had $1.4 billion and FTX Trading Ltd had $371.5 million.</li>
 <li>November 2023: Alameda Research LLC had $1.5 billion and FTX Trading Ltd had $1.6 billion.</li>
 <li>December 2023: Alameda Research LLC had $1.5 billion and FTX Trading Ltd had $2.5 billion.</li>
</ul>
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/ftx-and-alameda-keep-moving-to-cash-by-selling-cryptocurrency-here-is-the-latest-data/" rel="noopener noreferrer nofollow">FTX and Alameda Keep Moving to Cash by Selling Cryptocurrency: Here is the Latest Data</a>

FTX and Alameda Keep Moving to Cash by Selling Cryptocurrency: Here is the Latest Data

Bitcoin Sistemi EN

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