FTX identified $5.5 billion in cash, liquid crypto and liquid securities.
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.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.
"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."We ask our stakeholders to understand that this information is still preliminary and subject to change.” Meanwhile, $742 million is in cold storage under FTX debtor control and $121 million is pending transfer to cold storage under the debtors’ control.
The debtors identified $181 million of digital assets associated with FTX US, $90 million of which was subject to unauthorized third-party transfers after the bankruptcy filing. Of the rest, $88 million is in cold storage under FTX debtor control and $3 million is pending transfer to debtor control.that FTX US is “fully solvent” and can pay back its customers.
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