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.

The post Breakdown of current FTX assets shows $3.5B in crypto, $250M in real estate appeared first on CryptoSlate.

Share:

Share on facebook
Facebook
Share on twitter
Twitter
Share on pinterest
Pinterest
Share on linkedin
LinkedIn
On Key

Related Posts

Bitcoin Has Entered Into The Early Bull Phase — Crypto Pundit Avers

Ki Young Ju, the CEO of data analytic firm CryptoQuant is convinced that Bitcoin is on the cusp of a major lift-off as crypto traders continue to switch from a risk-off to risk-on mode. Earlier yesterday, Young tweeted that Bitcoin had “entered into the early bull phase”, suggesting that the top cryptocurrency by market capitalization

Goldman Sachs Ranks Bitcoin Best Performing Asset so Far This Year

Goldman Sachs has ranked bitcoin the best-performing asset so far this year. The cryptocurrency also tops the global investment bank’s list as the asset with the highest risk-adjusted return — above gold, real estate, the S&P 500, and the Nasdaq 100. Bitcoin Outshines Other Investments on Goldman’s Chart Global investment bank Goldman Sachs has reportedly

Global Digital Cluster Coin (GDCC) Is Now Available on LBank Exchange

PRESS RELEASE. LBank Exchange, a global digital asset trading platform, has listed Global Digital Cluster Coin (GDCC) on January 27, 2023. For all users of LBank Exchange, the GDCC/USDT trading pair is now officially available for trading. With its new-age protocol and peer-to-peer network, Global Digital Cluster Coin (GDCC) restructures the concept of money and