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$4.8 billion in scheduled assets found during FTX’s bankruptcy investigation

$4.8 billion in Scheduled Assets Found During FTX's Bankruptcy Investigation

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  • Debtors in FTX’s bankruptcy case reported that the company had over $4 billion in scheduled assets as of November 2022.
  • The debtors reported $25 million in political and other donations from three of the silos but noted limited information was available on cryptocurrency contributions.

Debtors in FTX’s bankruptcy case reported that the company had over $4 billion in scheduled assets as of November 2022 but 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 (SOFAs), which outlined the scheduled assets and claims of the company. Per the filing, the West Realm Shires silo – comprising FTX US & Ledger X, FTX.com, Alameda Research, and FTX Ventures – had approximately $4.8 billion in scheduled assets and $11.6 billion in scheduled claims.

According to the report released in November 2022, Alameda held the majority of the scheduled assets at approximately $2.6 billion but had “potentially material claims that have been filed as undetermined.” FTX.com had more than $11.2 billion in scheduled claims, with its associated venture arm, FTX Ventures, also having undetermined claims.

The debtors reported $25 million in political and other donations from three of the silos but noted limited information was available on cryptocurrency contributions. In addition, they said more than 53 million tokens, including Bitcoin, had been loaned by FTX companies utilizing crypto-collateralized loans. However, they indicated that other wallet and blockchain activity tracing was still being conducted.

An investigation is underway into crypto transactions made as part of payments to FTX company insiders, with former CEO Sam Bankman-Fried receiving over $2.2 billion. Since the firm filed for Chapter 11 bankruptcy protection in November 2022, FTX’s case has been ongoing and Bankman-Fried faces both criminal and civil charges in relation to alleged fraudulent activities at the company.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

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Damilola Lawrence

Damilola is a crypto enthusiast, content writer, and journalist. When he is not writing, he spends most of his time reading and keeping tabs on exciting projects in the blockchain space. He also studies the ramifications of Web3 and blockchain development to have a stake in the future economy.

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