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Finance

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.

By Nelson Wang
AccessTimeIconMar 17, 2023 at 9:56 p.m. UTC
Updated May 9, 2023 at 4:10 a.m. UTC
FTX founder Sam Bankman-Fried (Michael M. Santiago/Getty Images)

FTX founder Sam Bankman-Fried (Michael M. Santiago/Getty Images)

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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.

That included a deficit of $10.6 billion in the main FTX.com enterprise and one of $87 million in FTX.US. Sister trading firm Alameda Research had net assets of $2.6 billion, while FTX Ventures had net assets of $1.3 billion.

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.

Read more: FTX Paid Around $2.2B to Sam Bankman-Fried, New Management Says

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Nelson Wang
Nelson Wang

Nelson Wang was CoinDesk's news editor for the East Coast. He holds BTC and ETH above CoinDesk's disclosure threshold of $1,000.

Follow @NelWang on Twitter

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