According to FTX's debtors, they have reported a total of $11.6 billion in claims and $4.8 billion in assets, with a lot of their cryptocurrency possessions remaining undetermined.
The presentation revealed that $25 million had been given in donations, both political and of other types, from three of the FTX silos. However, it was mentioned that there was only a small amount of data on crypto donations.
FTX, a company currently negotiating bankruptcy, has reported having $4 billion in assets as of November 2022 according to its debtors. The debtors have stated that they are still in the process of investigating the company's crypto holdings. This news comes after FTX announced their bankruptcy case earlier this year. The company is focused on finding a resolution that is beneficial to all parties involved. With the current assets reported, FTX is confident that they will be able to find a satisfactory outcome.
In a recent filing with the United States Bankruptcy Court for the District of Delaware, FTX debtors have revealed details of their Statement of Financial Affairs, or SOFAs. The filing showed that the West Realm Shires silo — which covers FTX US and Ledger X, FTX.com, Alameda Research, and FTX Ventures — had approximately $4.8 billion in assets and $11.6 billion in claims. According to the filing, the Committee of Unsecured Creditors will review the presentation and consider the assets and claims of FTX.
FTX Debtors make available summary presentation of the filed Schedules and SOFAs: https://t.co/Lr8PqxTHBt
— FTX (@FTX_Official) March 17, 2023
According to a recent report, the financials from the four silos in November 2022 showed that Alameda held the majority of the scheduled assets at approximately $2.6 billion. However, there were "potentially material claims that have been filed as undetermined". Similarly, FTX.com had more than $11.2 billion in scheduled claims, with claims from FTX Ventures also undetermined. These figures demonstrate the significant sums of money at stake and the importance of ensuring that all claims are accurately determined.
A recent report presented to the public unveiled donations of $25 million from three of the silos, both political and otherwise. However, the data surrounding cryptocurrency holdings and transactions was not available or revealed in the report, with limited information on the crypto donations. Despite this, the report still provided insight into the donations made to the silos, although further research is needed to ascertain the details of crypto donations.
Crypto exchange FTX is facing increased legal troubles as its bankruptcy case continues, nearly a year after filing for Chapter 11 protection in November 2022. This, in addition to the criminal and civil cases against its CEO and founder, Sam Bankman-Fried, in relation to alleged fraudulent activities. With the future of the company in doubt, many in the crypto community are watching with bated breath to see how the situation unfolds.
