cryptonews: In its latest filing, the new management of Sam Bankman-Fried's FTX group of companies revealed a $6.8 billion shortfall. 🧐
In its latest filing, the new management of Sam Bankman-Fried's FTX group of companies revealed a $6.8 billion shortfall.
So far, they have found $11.6 billion in claims against $4.8 billion assets in the chaotic and incomplete books ofWhich, as bad as it sounds, is a lot better than the $9.8 billion imbalance between assets and what it owes customers that FTX Debtors — as the entire collection of more than 100 companies is now called — revealed on March 2.
That said, the value of those assets is not really clear, as the majority — $3.5 billion of it — is investments made by Alameda and venture investments by Bankman-Fried. On the other hand, the hard assets — cash and cash equivalents — have grown from less than $70 million to $900 million. As for the claims, FTX customers are owed $11.568 billion, with a big question mark of unsecured liabilities. Just the
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