FTX holds $1.24 billion cash balance before bankruptcy hearing

FTX has a total cash balance of $1.24 billion, a court filing by advisers on the stricken crypto exchange’s restructuring showed ahead of U.S. bankruptcy hearings set for later on Tuesday.

The collapse of FTX, once one of the world’s largest cryptocurrency exchanges, has left an estimated 1 million creditors facing losses totaling billions of dollars.