FTX Bankruptcy Filing Lists $1.4 Billion Cash, Lower Headcount

Suvashree Ghosh, Bloomberg News

The FTX Cryptocurrency Derivatives Exchange logo on a laptop screen arranged in Riga, Latvia, Nov. 24, 2022. The implosion of Sam Bankman-Fried’s FTX empire dealt a harsh blow to the Bahamas’ ambitions to be a hub for the crypto industry, and it’s causing massive pain for locals who treated the now-bankrupt exchange like a bank. Photographer: Andrey Rudakov/Bloomberg , Bloomberg

(Bloomberg) -- The bankrupt FTX group of crypto companies held $1.43 billion in cash at the end of last year and saw headcount drop almost 40%, according to an interim financial update.

The cash balance at Dec. 31, 2022 was higher than a $1.24 billion tally as of Nov. 20, the court filing showed.

The latest figure for one of the entities, defunct trading house Alameda Research, was $876.6 million versus $401 million in November.

Meanwhile, the number of group employees dropped to 195 by year-end from 320 when FTX slid into bankruptcy on Nov. 11.

The US has accused the discredited former crypto mogul Sam Bankman-Fried of presiding over one of the biggest frauds at the helm of the fallen FTX exchange. He faces trial after pleading not guilty to criminal charges.

Administrators are sifting through the wreckage in an effort to see how much can be returned to creditors.

Read more: Sam Bankman-Fried Asked FTX CEO John Ray to Meet in Person

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