The FTX crypto empire had a roughly $6.8 billion hole in its steadiness sheet when it filed for chapter final yr, advisers to the group have decided.
Belongings throughout Sam Bankman-Fried’s crypto conglomerate totaled about $4.8 billion in opposition to money owed of roughly $11.6 billion when FTX and associates crashed into Chapter 11 safety in November, in keeping with a presentation filed to the chapter courtroom Friday. Nearly all the money owed symbolize quantities owed to clients.
The slice of FTX that ran its US-based crypto trade had $255 million of belongings in opposition to $342 million of money owed, a shortfall of about $87 million. Bankman-Fried has repeatedly said the US trade is solvent.
The businesses had about $900 million of money and money equivalents unfold throughout its companies as of the chapter submitting, in keeping with the report. The majority of the group’s belongings have been investments, together with bets on the likes of a tactical drone maker Brinc Drones, a man-made intelligence firm known as Anthropic and Mysten Labs, a web3 agency. The investments are booked at $3.5 billion.
The figures are unaudited and could also be amended later, in keeping with the report.