FTX Advisers “Locate Over $5 BillIon” In Cash, Liquid Crypto


As FTX returns to bankruptcy court today, Sullivan & Cromwell attorney Adam Landis, speaking on behalf of FTX, has said:

“We have located over $5 billion of cash, liquid cryptocurrency and liquid investment securities measured at petition date value.

[It] just does not ascribe any value to holdings of dozens of illiquid cryptocurrency tokens, where our holdings are so large relative to the total supply that our positions cannot be sold without substantially affecting the market for the token.”


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