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FTX Doubles Its Money in 2 Months with Crypto Sales: Cash Becomes $4.4 Billion! - Coin Newsletter
Bankrupt cryptocurrency company FTX continues to sell cryptocurrency to pay its creditors.
According to Bloomberg, the FTX group's cash holdings rose from $2.3 billion in October to $4.4 billion at the end of the year.
FTX raised about $1.8 billion of that by selling cryptocurrency. The company also trades in the derivatives market.
With the increase in the amount of cash held by the company, the hopes of the creditors began to bloom. According to Cherokee Acquisition data, creditors are now given 73 cents per dollar, not 38.
FTX uses some of the cryptocurrencies in its reserves to earn passively yields.