FTX debtors identify $5.5 billion of liquid assets in ’Herculean effort’

Quick Take

  • FTX has identified $5.5 billion in liquid assets, part of what CEO John Ray called a “Herculean effort” to untangle the firm’s finances.
  • FTX.com and FTX US each face digital asset “shortfalls,” the FTX debtors said in a statement.

Beleaguered crypto exchange FTX identified $5.5 billion in liquid assets in what CEO John Ray called a “Herculean effort” to assess the firm’s financial situation.

FTX debtors have identified $1.7 billion of cash, $3.5 billion of crypto assets and $3 million of securities, the firm said in a statement. FTX filed for bankruptcy protection in November and could owe $3.1 billion to its top 50 creditors. 

"We are making important progress in our efforts to maximize recoveries, and it has taken a Herculean investigative effort from our team to uncover this preliminary information,” Ray said in a statement."We ask our stakeholders to understand that this information is still preliminary and subject to change.” 

FTX’s top-level management and advisers met with the committee of unsecure