FTX Bankruptcy: $11.6B in Claims, $4.8B in Assets, Crypto Holdings Undetermined

FTX Debtors Report $11.6B in Claims, $4.8B in Assets

  • FTX debtors reported that their various company silos had more than $4 billion in scheduled assets as of November 2022.
  • The presentation reported $25 million in donations — political and otherwise — from three of the FTX silos, but added “limited information” was available on crypto donations.
  • An investigation into crypto transactions as part of payments to FTX company insiders was also reported to be “ongoing.”

Scheduled Assets & Claims

The debtors in FTX’s bankruptcy case have reported that the various company silos had more than $4 billion in scheduled assets as of November 2022, but said they were still investigating the firm’s crypto holdings.In a March 17 filing with the United States Bankruptcy Court for the District of Delaware, FTX debtors submitted a presentation to the committee of unsecured creditors on its statement of financial affairs, which also detailed the scheduled assets and claims of the company. According to the filing, the West Realm Shires silo — which includes FTX US and Ledger X — FTX.com, Alameda Research and FTX Ventures had roughly $4.8 billion in scheduled assets and $11.6 billion in scheduled claims.

Crypto Holdings & Transactions

Much of the data surrounding cryptocurrency holdings or transactions in the debtors’ report was not available. The presentation reported $25 million in donations — political and otherwise — from three of the silos, but added that “limited information” was available on crypto donations. Of the crypto-collateralized loans — largely in FTT Tokens— made by the FTX companies, debtors reported more than 53 million tokens including Bitcoin (BTC), Ether (ETH), XRP (XRP) and USD Coin (USDC). However, they said that “additional tracing of wallet and blockchain activity remains an ongoing matter.”

Payments To Insiders

An investigation into crypto transactions as part of payments to FTX company insiders was also reported to be “ongoing.” Former CEO Sam Bankman-Fried received more than $2.2 billion of those payments according to reports from creditors.

Class Action Lawsuit Filed Against Influencers

Related: FTX influencers face a class-action lawsuit over alleged crypto trading losses totaling more than one billion dollars following accusations filed against them by investors who claim they were misled about risks associated with investing through cryptocurrency markets such as those offered by FTX when they began trading back in 2021.

Conclusion
In conclusion this article provided summary details about what is happening with current crisis involving financing issues related to several companies under one umbrella organization called “FTX” . It included details about resources being used for investigations regarding insider payment schemes , large sum donations , collateralized loans , and class action lawsuits being filed against influencers associated with this organization .