Bloomberg: As of the end of 2023, FTX's cash reserves have grown to $4.4 billion

ChainCatcher news, according to Bloomberg, FTX is selling off crypto assets and hoarding cash to repay customer assets that have been frozen since the platform's collapse in 2022.

According to the monthly operating report under Chapter 11 of the U.S. Bankruptcy Code, FTX's four largest subsidiaries, including FTX Trading Ltd. and Alameda Research LLC, nearly doubled their cash reserves by the end of 2023, increasing from about $2.3 billion at the end of October to $4.4 billion. If other subsidiaries are included, the company's total cash amount could be even higher.

It is reported that the company stated in a court filing last month that as of December 8, FTX raised $1.8 billion by selling part of the company's digital assets. FTX also indicated that it is engaging in Bitcoin derivatives trading to hedge against Bitcoin risk exposure and to generate additional income from its digital assets, while exploring the possibility of restarting the trading platform.