FTX raises cash to $4.4 billion by selling crypto assets, seeking to reimburse clients after collapse in 2022.
FTX’s strategy includes trading Bitcoin derivatives, facing legal and financial challenges in bankruptcy proceedings.
FTX, once an industry colossus, faces its biggest challenge: repaying its customers. How is it doing it? By selling crypto assets and accumulating cash, a strategy that has taken its cash from $2.3 billion to $4.4 billion by the end of 2023. Is this increase enough to cover its customers’ losses?
FTX, with its reputation damaged by fraud, has opted for an emergency tactic. Advisors have put some of their digital assets up for sale, raising $1.8 billion through December 2022. In addition, they are maneuvering in the Bitcoin derivatives market, seeking not only to hedge against the cryptocurrency’s volatility but also to generate additional returns. Will this be the solution to their financial woes?
Source: Bloomberg analysis of FTX’s Chapter 11 operating

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