FTX had only $900 million in liquid assets backing $9 billion in debt: FT

Quick Take

  • FTX had $900 million in liquid assets against $8.9 billion in liabilities on the eve of bankruptcy, the Financial Times reports.

FTX had only $900 million in liquid assets against $8.9 billion in liabilities on the eve of bankruptcy, the Financial Times reports.

Citing investment materials, the report noted that the largest easily sellable assets available to FTX were $470 million of Robinhood shares owned via an outside corporate entity belonging to CEO Sam Bankman-Fried.

Despite being formally based outside of the U.S., $5.1 billion of the liabilities FT reported were in U.S. dollar balances.

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The crypto exchange's collapse into bankruptcy over the past week has captivated the financial world.