FTX’s Federal Net Operating Loss Carryover Stood at $3.7 Billion
- Latest documents in FTX’s bankruptcy touch on operating losses
- Advisory firm says FTX historically didn’t keep reliable books
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Crypto exchange FTX and related companies now in bankruptcy collectively had a carryover federal net operating loss of at least $3.7 billion as of Dec. 31 last year based on tax returns, according to court filings.
The document from Alvarez & Marsal North America LLC, released as part of the Chapter 11 process, also showed that the minimum state net operating loss carryforward stood at $715 million.