FTX Firms Had $6.8B Hole in Balance Sheet at Time of Bankruptcy
The group of companies had debts of about $11.6 billion against $4.8 billion in assets, according to a presentation filed by its advisers.
Updated May 9, 2023 at 4:10 a.m. UTC
![FTX founder Sam Bankman-Fried (Michael M. Santiago/Getty Images)](https://www.coindesk.com/resizer/kIX4Q7u9TDy6JCm_U8cszuxJAqE=/567x319/filters:quality(80):format(jpg)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/PVBHZCE4CVBZNMJ7E2MJ3HOTWQ.jpeg)
Sam Bankman-Fried’s crypto empire had a $6.8 billion shortfall in its balance sheet when it filed for bankruptcy protection in November, according to a presentation filed to the bankruptcy court on Friday.
In total, the group of companies had debts of about $11.6 billion, the majority of that in customer claims, against $4.8 billion in assets.
The advisers noted that the statements were unaudited and subject to change.
Bloomberg earlier reported on the presentation.