FTX reports a shocking billion dollar surplus after bankruptcy

Bankrupt cryptocurrency exchange FTX has accumulated billions of dollars more than necessary to cover the losses incurred during its collapse in November 2022.

FTX CEO John Ray voiced his astonishment at the milestone in a commentary to Bloomberg, indicating the exchange’s ability to fully reimburse its over 2 million customers. With the upcoming sale of its assets, FTX is expected to have approximately $16.3 billion in cash, surpassing its $11 billion debt to customers and other non-governmental creditors.