New FTX Management Says in Creditors' Meeting It Has Determined FTX Has Over $1 Billion in Assets

According to CoinDesk, FTX's new management said in a procedural hearing on Tuesday that the company has identified more than $1 billion in assets. Among them, about $720 million in cash assets are deposited in U.S. financial institutions authorized by the U.S. Department of Justice to hold funds, and the exchange has not yet consolidated these assets. Another nearly $500 million has been deposited with U.S. financial institutions. FTX's new chief financial officer, Mary Cilia, said in the bankruptcy proceedings that about $130 million in cash was frozen in Japan, another $6 million was used to pay operating expenses such as salaries, and most of the remaining $423 million was in the future. Most of the authorized U.S. institutions are at one broker, which she declined to identify, and $485 million is held in authorized depository institutions. Cilia said the company still hasn't filed a statement of assets or financial condition required by U.S. bankruptcy law and currently estimates it will be able to do so in April.