FTX Has Nearly $9 Billion To Pay Before Bankruptcy

The Financial Times says that FTX had just $900 million in liquid assets vs. $8.9 billion in liabilities on the verge of bankruptcy.

Financial Times stated liabilities of $5.1 billion, however, the company was headquartered outside of the United States.

According to the report, which cited investment materials, the largest readily marketable asset available to FTX was $470 million worth of Robinhood shares owned through an external corporate entity owned by CEO Sam Bankman-Fried.

Creditors face an explanation future due to the significant hole in the exchange balance sheet and the history of crypto exchange failures locking up customer cash.

Currently, several transactions attributed to Alameda are withdrawing funds out of a wallet address. This further worries investors because their money is still stuck in FTX and Alameda, in addition to the news that FTX was hacked at this “sensitive” time.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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