Around $5.5 billion of liquid assets has been identified at FTX along with a substantial shortfall partly due to unauthorized transfers.
FTX Trading and its affiliated debtors have identified approximately $5.5 billion of liquid assets, according to a statement, following a meeting with the Official Committee of Unsecured Creditors (UCC) on January 17.
This includes $1.7 billion of cash, $3.5 billion of crypto assets and $300 million in securities.
«Substantial Shortfall»
Separately, FTX debtors also noted that there is a «substantial shortfall» of digital assets at both FTX.com and FTX US exchanges as of the petition date – 11 November 2022 when the chapter 11 cases commenced – based on current estimates.
The shortfall includes «unauthorized third-party transfers post-petition» of $323 million at FTX.com and $90 million at 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 John J. Ray III, FTX debtors CEO and chief restructuring officer.
