Sam Bankman-Fried’s FTX had a gargantuan $7 billion gap in its stability sheet when it collapsed final yr
The FTX crypto empire had a roughly $6.8 billion hole in its stability 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 towards money owed of roughly $11.6 billion when FTX and associates crashed into Chapter 11 safety in November, based on a presentation filed to the chapter court docket Friday. Virtually the entire money owed characterize quantities owed to prospects.
The slice of FTX that ran its US-based crypto change had $255 million of belongings towards $342 million of money owed, a shortfall of about $87 million. Bankman-Fried has repeatedly mentioned the US change is solvent.
The businesses had about $900 million of money and money equivalents unfold throughout its companies as of the chapter submitting, based on 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 referred to 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, based on the report.
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