FTX stakeholder report shows 'massive shortfall' of assets

Quick Take

  • FTX said $2.2 billion of digital assets have been located in accounts associated with FTX.com, of which only $694 million are high-quality “liquid assets.”
  •  It is not possible to calculate or predict customer recoveries based on the presentation, a report from the company said.

It's still not possible to accurately calculate or predict customer recoveries at this time, FTX CEO John Ray III said in a new presentation filed Thursday in the failed crypto exhange's ongoing bankruptcy proceedings.

The presentation confirmed a “massive shortfall” in assets for FTX and its corporate family.

Using spot prices as of March 1, more than $2.2 billion in total crypto assets have been located in wallets associated with FTX.com. Of this amount, only $694 million of these funds are liquid “Category A Assets,” which include fiat, stablecoins, bitcoin and ether.

Other assets include $385 million of customer receivables, and significant claims against FTX sister company Alameda Research and related parties. The presentation also shows $9.3 billion borrowed by Alameda from the FTX.com wallets and accounts.