FTX debtors report $11.6 billion in claims and $4.8 billion in assets

Debtors reported that FTX silos held $4 billion in scheduled assets and $11.6 billion in scheduled claims as of Nov 2022.
The presentation showed $25 million in donations, including political donations.

FTX debtors have reported that several company silos held over $4 billion in scheduled assets as of November 2022. They claim that they were still looking into the firm’s crypto holdings.
As part of a filing with the U.S. Bankruptcy Court for the District of Delaware on Friday, debtors submitted a presentation to the committee of unsecured creditors.
The presentation was on the company’s statement of financial affairs, which also detailed its scheduled assets and claims.
The West Realm Shires silo, which includes FTX US and Ledger X, FTX.com, Alameda Research, and FTX Ventures, had around $4.8 billion in scheduled assets and $11.6 billion in scheduled claims, according to the filing.

Alameda Research held about $2.6 billion in scheduled assets but had “potentially material claims that have been filed as undetermined.”  FTX.com held more than $11.2 billion in scheduled claims, but FTX Ventures’ claims remained undetermined.
The presentation showed $25 million in donations from three of these silos but added that “limited information” was available on crypto donations.
Debtors have reported more than 53 million tokens, including Bitcoin, Ethereum, and XRP as collateral for crypto-collateralized loans. Well, the majority part of the tokens included the FTX token.
According to the debtors, “additional tracing of wallet and blockchain activity remains an ongoing matter.”
3.2 billion paid to high-level execs, including $2.2 billion to SBF
As per a previous court filing, approximately $3.2 billion was sourced from Alameda Research’s funds and paid to high-level executives.
Sam Bankman-Fried “SBF” received $2.2 billion of the total $3.2 billion, followed by $587 million to former director of engineering Nishad Singh and $247 million to co-founder Gary Wang.
Former FTX Digital Markets co-CEO Ryan Salame received $87 million while former Alameda co-CEO John Samuel Trabucco received $25 million. Former Alameda CEO Caroline Ellison received $6 million.
FTX’s bankruptcy case has been underway since November 2022, when it filed for Chapter 11 protection. Furthermore, SBF is facing both criminal and civil charges for his involvement in allegedly fraudulent activities at the company.

This article has been originally published at: https://ambcrypto.com/ftx-debtors-report-11-6-billion-in-claims-and-4-8-billion-in-assets/