FTX debtors declare $11.6 billion in claims and $4.8 billion in assets with many cryptocurrency funds yet to be determined

The debtors within the FTX chapter case reported that the corporate’s varied silos had greater than $4 billion in property on document as of November 2022, however mentioned they have been nonetheless investigating the agency’s cryptocurrency holdings.

In a March 17 submitting with the USA Chapter Court docket for the District of Delaware, FTX debtors forwarded a presentation to the committee of unsecured collectors on its Assertion of Monetary Affairs, or SOFA, which additionally detailed the corporate’s property and scheduled loans. In accordance with the submitting, the West Realm Shires silo – which incorporates FTX US and Ledger X -, FTX.com, Alameda Analysis and FTX Ventures had roughly $4.8 billion in recorded property and $11.6 billion in recorded claims.

The information was based mostly on petition funds from the 4 silos in November 2022. In accordance with the report, Alameda owned the vast majority of the property, about $2.6 billion, however had “doubtlessly vital claims which were filed as indeterminate.” FTX.com had greater than $11.2 billion in scheduled claims, however FTX Ventures’ claims have been indeterminate.

A lot of the info on cryptocurrency holdings or transactions within the debtors’ report was not obtainable. The submitting reported $25 million in donations – political and in any other case – coming from three of the silos, however added that “restricted info” was obtainable on cryptocurrency donations.

Of the crypto-collateralized loans – largely in FTT tokens – made by FTX firms, debtors reported greater than 53 million tokens, together with Bitcoin (BTC), Ether ((ETH), XRP, and USD Coin (USDC). Nevertheless , they mentioned that “further monitoring of pockets and blockchain exercise stays an open case.”

It was additionally reported that an investigation into cryptocurrency transactions as a part of funds to insiders from the corporate FTX was “open.” Former CEO Sam Bankman-Fried acquired greater than $2.2 billion of the funds.

FTX’s chapter case has been open since the corporate filed for Chapter 11 Chapter in November 2022. As well as, Bankman-Fried faces legal and civil lawsuits for its involvement in alleged fraudulent actions on the firm.

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