The CEO of FTX said it took a 'huge effort' to uncover the billions of dollars in deficits the exchange has revealed.
Only $191 million of total assets were located in the wallets of the accounts associated with FTX US, in addition to $28 million of customer receivables and $155 million of related party receivables.
The balances of FTX's wallets and accounts at the time of its bankruptcy showing an $8.6 billion deficit. Source: FTX wallets showed a $9.3 billion net borrowing by the exchanges sister trading firm Alameda Research and a $107 million net payable to Alameda from FTX US. FTX recorded surpluses across its less liquid"Category B Assets" that included its own FTX Token but the holdings are insignificant compared to the deficits on its other held assets.
In total FTX recorded an $8.6 billion deficit across all wallets and accounts while FTX US recorded a deficit of $116 million.
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