FTX, the defunct cryptocurrency exchange, had a $6.8 billion hole in its balance sheet when it filed for bankruptcy last year.
According to group advisers, FTX’s debt includes a $10.6 billion shortfall for FTX.com’s core business and a $87 million shortfall for FTX.US.
Alameda Research, the trading wing of FTX, had $2.6 billion in net assets. Meanwhile, FTX Ventures reported $1.3 billion in losses.
FTX Total Assets and Debts
According to a bankruptcy court filing on March 17, FTX affiliates had assets of $4.8 billion and accumulated liabilities of about $11.6 billion when they filed for bankruptcy in November; most of which were customer complaints.
There was a shortfall of about $87 million at FTX US, which had assets of $255 million and debts of about $342 million. Former FTX boss Sam Bankman-Fried has repeatedly stated that the US exchange was flat.
At the time of the bankruptcy filing, the companies’ businesses collectively held nearly $900 million in cash and cash equivalents.
Most of his holdings were investments, including stakes in companies including tactical drone maker Brinc Drones; the artificial intelligence firm, Anthropic; and web3 company Mysten Labs. Combined, these investments are worth $3.5 billion.
According to the study, the numbers have not yet been audited and therefore could change.
Lawyers for Sam Bankman-Fried negotiate new bail terms
According to a trial update yesterday, Sam’s lawyers and US prosecutors are close to reaching an agreement on new bail terms.
It’s after U.S. District Judge Lewis Kaplan said Sam’s conversations with others would go beyond the limit of his $250 million bail deal at a March 10 hearing.
His lawyer, Christian Everdell, wrote in a letter delivered March 17 to the Manhattan federal court that both sides thought they were “close to a resolution” and expected to formally propose additional limits by next week.
