The FTX crypto empire had a around $6.8 billion hole in its balance sheet when it submitted for individual bankruptcy past yr, advisers to the group have identified.
Property throughout Sam Bankman-Fried’s crypto conglomerate totaled about $4.8 billion versus money owed of roughly $11.6 billion when FTX and affiliates crashed into Chapter 11 security in November, according to a presentation filed to the personal bankruptcy courtroom Friday. Almost all of the debts depict quantities owed to buyers.
The slice of FTX that ran its US-primarily based crypto exchange experienced $255 million of property versus $342 million of money owed, a shortfall of about $87 million. Bankman-Fried has repeatedly said the US exchange is solvent.
The corporations experienced about $900 million of income and cash equivalents distribute across its firms as of the personal bankruptcy filing, in accordance to the report. The bulk of the group’s property were investments, together with bets on the likes of a tactical drone maker Brinc Drones, an synthetic intelligence organization referred to as Anthropic and Mysten Labs, a web3 organization. The investments are booked at $3.5 billion.
The figures are unaudited and may possibly be amended later on, according to the report.