FTX has spent $86 million from its bankruptcy until the end of March, of which $67 million was used to pay legal fees

ChainCatcher message, according to court documents, FTX released its fourth report in a series of mid-term financial updates on Friday, showing that FTX has spent a total of $86 million as of the end of March. The report indicates that the vast majority of FTX's expenditures ($67 million) were for legal fees.

The company stated that it has $2 billion in cash and has generated $48 million in revenue from asset sales. However, since the report only covers up to the end of March, it does not include the $50 million obtained from the sale of LedgerX.

On April 26, it was reported that FTX's debtors agreed to sell the derivatives exchange LedgerX to a subsidiary of Miami International Holdings, M7 Holdings, for approximately $50 million. The transaction also requires approval from the U.S. bankruptcy court overseeing FTX's bankruptcy proceedings, with a sales hearing scheduled for May 4.

FTX received approval earlier this year to sell business units to raise funds for creditors, planning to sell its subsidiaries Embed Financial Technologies, FTX Japan, and FTX Europe. According to a legal document from earlier this year, about 117 companies expressed interest in purchasing FTX's subsidiaries. (source link)