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FTX Debtors Report $11.6B Claims, $4.8B in Assets, Crypto Holdings Undetermined

20. March 2023 /

• FTX debtors reported that the various company silos had more than $4 billion in scheduled assets as of November 2022.
• Crypto donations and transactions were not available, but there was a reported $25 million in donations from three silos.
• An investigation into crypto transactions to FTX company insiders, including former CEO Sam Bankman-Fried, is still ongoing.

FTX Debtors Report Assets

The debtors in FTX’s bankruptcy case have reported that the various company silos had more than $4 billion in scheduled assets as of November 2022, according to a March 17 filing with the United States Bankruptcy Court for the District of Delaware. In their presentation to the committee of unsecured creditors on its statement of financial affairs, they detailed the scheduled assets and claims of the company.

Crypto Donations

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. Of the crypto-collateralized loans — largely in FTX Token (FTT) — made by the FTX companies, debtors reported more than 53 million tokens, including Bitcoin (BTC), Ether (ETH), XRP (XRP), and USD Coin (USDC). However, they said that “additional tracing of wallet and blockchain activity remains an ongoing matter.”

Ongoing Investigation

An investigation into crypto transactions as part of payments to FTX company insiders was also reported to be “ongoing.” Former CEO Sam Bankman-Fried received more than $2.2 billion of the payments. A class-action lawsuit has been filed over alleged crypto mismanagement against influencers associated with FTX as well.

Scheduled Claims & Assets

The West Realm Shires silo — which includes FTX US and Ledger X — FTX.com, Alameda Research and FTX Ventures had roughly $4.8 billion in scheduled assets and $11.6 billion in scheduled claims. Alameda held the majority at roughly $2.6 billion but ​​had “potentially material claims that have been filed as undetermined.”

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