The bankrupt FTX group of crypto companies held US$1.43 billion in cash at the end of last year and saw headcount drop almost 40%, according to an interim financial update.

The cash balance as at Dec 31, 2022 was higher than a US$1.24 billion tally as of Nov 20, the court filing showed. 

The latest figure for one of the entities, defunct trading house Alameda Research, was US$876.6 million versus US$401 million in November.

Meanwhile, the number of group employees dropped to 195 by year-end from 320 when FTX slid into bankruptcy on Nov 11.

The US has accused the discredited former crypto mogul Sam Bankman-Fried of presiding over one of the biggest frauds at the helm of the fallen FTX exchange. He faces trial after pleading not guilty to criminal charges. 

Administrators are sifting through the wreckage in an effort to see how much can be returned to creditors.

  - Bloomberg