- The exchange has disclosed the amount of spending and income
- This spending may shock investors
- But the exchange is also actively returning assets
FTX unveiled a new capital report. To date, they have spent $86 million on their activities. Of that amount, $67 million went to lawyers and liquidators.
The company said it has $2 billion in cash and received $48 million from the sale of assets. However, the report is valid until the end of March.
It does not take into account several fresh deals, including the $50 million sale of LedgerX. The company conducted this transaction at the end of April. The buyer is Miami International Holdings.
The new head of the cryptocurrency exchange, John Ray, stresses that recovering assets is not an easy task.. But in the future this amount may increase thanks to the coordinated work of lawyers and investigators.
“It took tremendous effort to get this far.. The assets of the exchanges were badly mixed and their books and records incomplete. In many cases, they were not available at all.
For these reasons, it is important to note that the balance sheet information is preliminary and may change in the future.”
We note that over the weekend the FBI searched the home of Ryan Salame, a former FTX executive. The businessman was a major contributor to the Republicans.
With the new management, FTX has been able to recover quite a few assets. Moreover, the exchange has not ruled out the option of restarting. Such a plan has attracted a major investor, Tribe Capital.