News & Media

The FTX Group’s Fifth Interim Financial Update Reports Cash Recovery of $2.039 Billion

June 1, 2023

On May 30, 2023, FTX Trading Ltd. and its affiliated debtor entities (the “FTX Group”) filed the FTX Group’s Fifth Interim Financial Update for the period from April 1, 2023 to April 30, 2023 (the “Financial Update”).  The Financial Update reports that the FTX Group has recovered and holds $2.039 billion in cash in its accounts as of April 30, 2023, including $599,016,909 in accounts of the FTX Group’s U.S. exchange (WRS) and $407,995,330 in accounts of the FTX Group’s non-U.S. exchange (Dotcom):

These cash balances reflect only cash recovered to date and are exclusive of other assets held at FTX Group and potential recoveries from claims against various third parties, including former management named in lawsuits, including Onusz v. West Realm Shires Inc., et al., Adv. Pro. No. 22-50513 (JTD).

The FTX Group’s bankruptcy process is ongoing, including both the marshaling of assets for distribution and development of a plan that will include a method for such distribution.  However, there is no current date for approval of a plan or the beginning of distributions to customers.

To view the Financial Update, please use the following link.

This release is for informational purposes only and should not be construed as legal advice.