Debtors of the bankrupt crypto exchange, FTX disclosed their latest talks with the Official Committee of Unsecured Creditors (UCC), where they presented a “massive shortfall” in FTX.com and FTX.US exchanges, and a very little portion of identified assets are liquid.
Using spot prices at the Petition Time, nearly $2.2 billion have been located across the wallets of the accounts associated with the FTX.com exchange. Out of only $694 million worth of assets are liquid assets, including fiat, stablecoin, BTC, or ETH.
Also, the presentation unveiled a $9.3 billion net borrowing by Alameda Research LLC from FTX.com.
Particularly, FTX.US alone has $191 million worth of assets found, in addition to $28 million of customer receivables and $155 million of related party receivables. However, the debt exceeds the total holdings as $335 million of customer claims and $283 million of related party claims are standing against the FTX U.S.
In the internal settlement, FTX.US owes $107 million to Alameda Research.
Also Read: SEC Convicts FTX’S Former Chief Eng to Criminal Charge
