The debtors behind FTX have identified $5.5 billion in liquid assets but reported a “substantial shortfall of digital assets” at the bankrupt crypto exchange and its U.S. arm.
In a Jan. 17 announcement, FTX said it had identified $1.7 billion in cash, $3.5 billion in crypto assets and $0.3 billion in securities following the firm filing for Chapter 11 bankruptcy in November. The debtors added that they had identified roughly $1.6 billion in digital assets associated with FTX.com — including roughly $426 million being held by the Securities Commission of The Bahamas — and $181 million connected to FTX US.
“We are making important progress in our efforts to maximize recoveries, and it has taken a Herculean investigative effort from our team to uncover this preliminary information,” said FTX CEO John Ray. “We ask our stakeholders to understand that this information is still preliminary and subject to change. We will provide additional information as soon as we are able to do so.”
Sharing the FTX Debtors’ press release just issued: https://t.co/fcSs36nFmq