FTX debtors report $11.6B in claims, $4.8B in assets with many crypto holdings ‘undetermined’

The debtors in FTX’s personal bankruptcy case hreported the different business silos had more than $4 billion in arranged properties since November 2022, however stated they were still examining the company’s crypto holdings.

In a March 17 filing with United States Personal Bankruptcy Court for the District of Delaware, FTX debtors sent a discussion to the committee of unsecured financial institutions on its Declaration of Financial Affairs, or Couches, which likewise detailed the arranged properties and claims of the business. According to the filing, the West World Shires silo– that includes FTX United States and Journal X– FTX.com, Alameda Research Study, and FTX Ventures had approximately $4.8 billion in arranged properties and $11.6 billion in arranged claims.

FTX Debtors offer summary discussion of the submitted Schedules and Couches: https://t.co/Lr8PqxTHBt

— FTX (@FTX_Official) March 17, 2023

The information was based upon petitioning financials from the 4 silos in November 2022. According to the report, Alameda held most of the arranged properties at approximately $2.6 billion, however had “possibly material claims that have actually been submitted as undetermined”. FTX.com had more than $11.2 billion in arranged claims, however declares from FTX Ventures were undetermined.

Much of the information surrounding cryptocurrency holdings or deals in the debtors’ report was not offered. The discussion reported $25 million in contributions– political and otherwise– from 3 of the silos, however included “minimal info” was offered on crypto contributions.

Of the crypto-collateralized loans– mainly in FTT tokens– made by the FTX business, debtors reported more than 53 million tokens consisting of Bitcoin (BTC), Ether (ETH), XRP, and USD Coin (USDC). Nevertheless, they stated “extra tracing of wallet and blockchain activity stays a continuous matter”.

An examination into crypto deals as part of payments to FTX business experts was likewise reported to be “continuous”. Previous CEO Sam Bankman-Fried got more than $2.2 billion of the payments.

Related: FTX influencers deal with $1B class-action claim over supposed crypto scams promo

FTX’s personal bankruptcy case has actually been continuous given that the company applied for Chapter 11 defense in November 2022. In addition, Bankman-Fried faces both criminal and civil cases for his participation in supposed deceptive activities at the business.