FTX Debtors Uncover $5.5B in Liquid Assets, But Substantial Shortfall Exists

• The FTX Debtors group has identified $1.6 billion of digital assets associated with FTX.com and $181 million connected to FTX US.
• A total of about $5.5 billion in liquid assets have been identified, consisting of $1.7 billion in cash, $3.5 billion of crypto assets and FTT tokens and $300 million of securities.
• The group affirmed that there is a “substantial shortfall” at both FTX.com and FTX US based on current estimates of the amount of digital assets.

The FTX Debtors group, consisting of FTX Trading and its affiliates, have provided details on the digital assets they’ve identified during their attempts to recover funds from the bankrupt crypto exchange and its subsidiaries. According to a press release on Tuesday, the group identified a total of about $5.5 billion in liquid assets, which includes $1.7 billion in cash, $3.5 billion of crypto assets and FTT tokens, and $300 million of securities.

Half of these digital assets are already under the control of FTX Debtors, while the other half has been subject to unauthorized third-party transfers after FTX filed for bankruptcy protection and transferred to the control of the Securities Commission of the Bahamas in the case of FTX.com.

The group confirmed that the digital assets associated with FTX.com and FTX US amount to a total of $1.6 billion and $181 million, respectively. Based on current estimates, the group affirmed that there is a “substantial shortfall” at both FTX.com and FTX US.

In addition to the digital assets, the group also identified various assets subject to control by the Securities Commission of the Bahamas, including FTT tokens, crypto assets and cash. However, the FTX Debtors have not yet obtained control of these assets, and it is unclear when or if they will be able to do so.

The FTX Debtors are working with their advisors and the Securities Commission of the Bahamas to identify and recover additional assets, including digital assets and other assets subject to control by the Commission.

The FTX Debtors are also in the process of filing claims against various parties, including FTX’s former management and shareholders, to recover additional assets. The goal is to maximize the value of the estate for the benefit of all creditors and stakeholders, according to the group.

The FTX Debtors are calling on all FTX stakeholders to provide information on any additional assets that may be held by FTX or its affiliates. They are also working with law enforcement authorities to identify any additional assets that may have been transferred without authorization.

It remains to be seen how the FTX Debtors will be able to recover the assets and how the funds will be distributed among the creditors and stakeholders. However, the group is confident that it will be able to maximize the value of the estate for all involved parties.