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FTX Group Has Cash Balance of $1.24 Billion, New Bankruptcy Filing Shows

FTX Group, which filed for Chapter 11 bankruptcy protection on Nov. 11, has a combined cash balance of $1.24 billion, according to a new court filing.

The filing, submitted late Monday by FTX Group's proposed financial advisor Alvarez & Marsal North America LLC, shows an updated summary of the group's cash balances as of Nov. 20. The latest figures are "substantially higher cash balances than the Debtors were in a position to substantiate as of Wednesday, Nov. 16," it reads.

(By Yogita Khatri)

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