FTX's new management said it had over $1 billion in assets identified. The company located about $720 million in cash assets which the exchange has yet to consolidate in U.S. financial institutions authorized to hold funds by the Department of Justice. Another near $500 million is already being held in U.S. institutions.
Around $130 million of cash is locked up in Japan, Cilia said – where local regulations have largely ringfenced funds for local customers.
Another $6 million is being kept for operational expenses such as payroll, and most of the remaining $423 million at unauthorized U.S. institutions are mainly at a single broker, she added, though she declined to identify the broker. $485 million are already in an authorized deposit institution, Cilia said.
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