Debtors in the FTX bankruptcy case reported that various corporate silos have more than $4 billion in scheduled assets as of November 2022, but said they are still investigating the company’s crypto holdings.
In a filing with Delaware U.S. bankruptcy court on March 17, FTX debtors submitted a report to the committee of unsecured creditors on its financial statements, which also detailed the company's scheduled assets and claims. According to the filing, the West Realm Shires silos including FTX US and Ledger X have approximately $4.8 billion in scheduled assets and $11.6 billion in scheduled claims between FTX.com, Alameda Research and FTX Ventures.
The data is based on November 2022 petition financial data from four silos. According to the report, Alameda holds most of the scheduled assets, valued at about $2.6 billion, but "potentially significant claims have yet to be identified." FTX.com has more than $11.2 billion in scheduled claims, but FTX Ventures’ claim has yet to be identified.
Much of the data on cryptocurrency holdings or transactions in debtor reports is not available. The presentation reported $25 million in political and other donations from three silos, but added that there was "limited information" on cryptocurrency donations. In Crypto Collateralized Lending - Mainly FTX Tokens Manufactured by FTX Corporation, Debtor Reports Over 53 Million Tokens, Including Bitcoin, Ether (ETH), Ripple, and USDC. However, they said, "additional tracking of wallet and blockchain activity remains an ongoing issue." Investigations into crypto transactions are also reportedly “underway” as part of payments to FTX corporate insiders. Former CEO Sam Bankman-Fried received more than $2.2 billion in payments.
FTX’s bankruptcy case has been ongoing since the company filed for Chapter 11 protection in November 2022. In addition, Bankman-Fried faces criminal and civil lawsuits for his alleged involvement in the company's fraudulent activities.
