Trending Topic: FTX Facilitates $6.8B Losses Leading To $11.6B Debt Claims And $4.8B In Unidentified Crypto Holdings

In its latest financial statement, the bankrupt exchange's new managers cited $11.6 billion in claims and just $4.8 billion assets.

FTX debtors have reported over $4 billion in scheduled assets among various company silos as of November 2022 in a filing with the United States Bankruptcy Court. The report revealed that Alameda Research held the majority of scheduled assets but had "potentially material claims that have been filed as undetermined," while the data surrounding cryptocurrency holdings or transactions was limited.

FTX, the defunct crypto exchange, had a $6.8b hole in its balance sheet when it declared bankruptcy last year

According to a presentation recently submitted by the FTX debtors on March 16, Sam Bankman-Fried's companies had a $6.8 billion hole in their intercompany balance sheet when they filed for Chapter 11 bankruptcy protection. FTX and its conglomerate of firms have debts of around $11.6 billion, including customer claims and various other liabilities. FTX's $6.

FTX debtors have reported that several company silos held over $4 billion in scheduled assets as of November 2022. They claim that they were still looking into the firm's crypto holdings.

FTX CEO Sam Bankman Fried's crypto empire had a shortfall of $6.8 billion in its balance sheet when it filed for bankruptcy in November 2021.

The group of companies had debts of about $11.6 billion against $4.8 billion in assets, according to a presentation filed by its advisers.

The presentation reported $25 million in donations — political and otherwise — from three of the FTX silos, but added “limited information” was available on crypto donations.