The presentation reported $25 million in donations — political and otherwise — from three of the FTX silos, but added “limited information” was available on crypto donations.
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The debtors in FTX’s bankruptcy case hreported the various company silos had more than $4 billion in scheduled assets as of November 2022, but said they were still investigating the firm’s crypto holdings.
In a March 17 filing with 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, or SOFAs, which also detailed the scheduled assets and claims of the company. According to the filing, the West Realm Shires silo — which includes FTX US and Ledger X — FTX.com, Alameda Research, and FTX Ventures had roughly $4.8 billion in scheduled assets and $11.6 billion in scheduled claims.
FTX Debtors make available summary presentation of the filed Schedules and SOFAs: https://t.co/Lr8PqxTHBt
— FTX (@FTX_Official) March 17, 2023
The data was based on petitioning financials from the four silos in November 2022. According to the report, Alameda held the majority of the scheduled assets at roughly $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, but claims from FTX Ventures were undetermined.
Much of the data surrounding cryptocurrency holdings or transactions in the debtors’ report was not available. The presentation reported $25 million in donations — political and otherwise — from three of the silos, but added “limited information” was available on crypto donations.
Of the crypto-collateralized loans — largely in FTT tokens — made by the FTX companies, debtors reported more than 53 million tokens including Bitcoin (BTC), Ether (ETH), XRP, and USD Coin (USDC). However, they said “additional tracing of wallet and blockchain activity remains an ongoing matter”.
An investigation into crypto transactions as part of payments to FTX company insiders was also reported to be “ongoing”. Former CEO Sam Bankman-Fried received more than $2.2 billion of the payments.
Related: FTX influencers face $1B class-action lawsuit over alleged crypto fraud promotion
FTX’s bankruptcy case has been ongoing since the firm filed for Chapter 11 protection in November 2022. In addition, Bankman-Fried faces both criminal and civil cases for his involvement in alleged fraudulent activities at the company.
This article has been originally published at: https://cointelegraph.com/news/ftx-debtors-report-11-6b-in-claims-4-8b-in-assets-with-many-crypto-holdings-undetermined