[vc_row full_width=”stretch_row” css=”.vc_custom_1531732107238{background-color: #fcc118 !important;}”][vc_column]

[/vc_column][/vc_row][vc_row css=”.vc_custom_1531730959461{border-bottom-width: 1px !important;background-color: #f9fafb !important;border-bottom-color: #eef3f7 !important;border-bottom-style: solid !important;}”][vc_column css=”.vc_custom_1531891416301{margin-bottom: 0px !important;}”][bsfp-cryptocurrency style=”widget-6″ align=”auto” columns=”2″ scheme=”light” coins=”top-x-coins” coins-count=”8″ coins-selected=”” currency=”USD” title=”Cryptocurrencies” show_title=”0″ icon=”” heading_color=”” heading_style=”default” bs-show-desktop=”1″ bs-show-tablet=”1″ bs-show-phone=”1″ css=”.vc_custom_1531730265600{margin-bottom: 0px !important;}” custom-css-class=”” custom-id=””][/vc_column][/vc_row]

Breakdown of current FTX assets shows $3.5B in crypto, $250M in real estate


Recently released court findings have revealed that FTX.com had $1.6 billion in crypto assets at the time of the bankruptcy petition.

However, the total value of all assets recovered by FTX Debtors came to $5.5 billion, including cash, crypto, and illiquid securities.

ftx assets
Source: FTX docket

As $5.5 billion in total assets were recovered with only $1.6 billion linked to FTX.com, a shortfall was declared by the investigators. In addition, roughly $1.9 billion in crypto was attributed to Alameda between hot wallets and BitGo custody.

A further $181 million was recovered from FTX US tied to BitGo custody accounts alongside the $90 million that was ‘hacked’ by an insider alleged to be SBF. SBF denied this accusation in Twitter Spaces prior to his arrest.

A slide from the deck revealed all crypto assets held by FTX which were deemed ‘illiquid.’ The largest holding of such tokens was Serum (SRM), with a value of $1.9 billion. The next most significant holdings were SOLETH and MAPS at $561 million and $521 million, respectively.

ftx assets
Source: FTX docket

While these holdings were deemed ‘illiquid’ by the investigators, several tokens have active trading volumes. However, with $521 million in MAPS tokens, FTX held 15% of the total market cap of the project. Therefore, offloading the MAPS tokens would severely impact the market value of MAPS.

In the slide below, investigators further disclosed a list of real estate properties owned by FTX. In addition, 36 properties throughout the Bahamas were acquired through FTX funds for a total of $253 million in value.

ftx real estate
Source: FTX docket

The properties ranged from exclusive penthouse accommodation to villas valued at up to $12.9 million. As detailed throughout the investigation, many of these properties are alleged to have been personal premises.

The document also confirmed that several transactions are currently “under review,” including $93 million of political donations, the $2.1 billion payment to Binance for FTT tokens, $2 billion in insider loans, $446 million in transfers to Voyager, an investment of $400 million from Modulo Capital, and a large number of Robinhood shares.

Read Our Latest Market Report

Leave A Reply

Your email address will not be published.