FTX Discovers $5.5B in Liquid Assets — Debtors Explore Ways to Maximize Recovery via Potential Sale of Subsidiaries, Real Estate – Bitcoin News

FTX Discovers $5.5B in Liquid Assets — Debtors Explore Ways to Maximize Recovery via Potential Sale of Subsidiaries, Real Estate

On Jan. 17, 2023, FTX Trading Ltd. and affiliated debtors updated the public and detailed that the firm’s current administrators have discovered $5.5 billion of liquid assets to date. Top-level executives, including the new FTX CEO and chief restructuring officer, John J. Ray III, met with the bankruptcy case’s committee of unsecured creditors to share the news.FTX has discovered $5.5 billion in liquid assets, according to a press statement released at 2:40 p.m. Eastern Time, Tuesday.

FTX Debtors Investigate Historical Transactions, Including Voyager and Blockfi Deals, and $93M in Political Donations The presentation shared with the committee of unsecured creditors is also attached to the FTX press release, and it notes that an investigation “confirmed shortfalls at both international and U.S. exchanges.” Furthermore, the investigation “uncovered the mechanics behind how Alameda Research had the ability to borrow without collateral effectively unlimited amounts from customers.

“Hundreds of [mergers and acquisitions] M&A and other transactions under review,” the presentation explains. The presentation also gives a detailed visual map of how the inner circle, mostly Alameda Research, could “withdraw assets without [a] record on the exchange ledger.”

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it is amazing how quickly and on what scale information is disclosed that was previously said to be impossible to detect and investigate😅another confirmation that every transaction never 'lost' and everything can be disclosed if there is a great desire and media nature of case😉

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