FTX’s Balance Sheet Leaked: How Much Assets And Debt Does It Have?

Financial TimesAccording to the news of FTXbefore the bankruptcy $8.9 billion only for its obligations 900 million dollars had cash.

FTX Only Had $900M in Cash Against $9B in Debt

Citing investment materials, the report states that the company’s largest easily sellable asset is owned through a legal entity owned by CEO Sam Bankman-Fried. 470 million dollar Robinhood shares were recorded.

Although officially based outside the United States, $5.1 billion of debt was US dollars, the Financial Times reported.

The bankruptcy of the crypto exchange last week deeply affected the financial world.

Crypto assets owned by the company’s sister trading firm Alameda Research went into chain action earlier this morning. A large network of assets associated with the corporate network was drained from accounts.

Alameda CEO Caroline Ellison said in a video meeting with Alameda employees on Wednesday that she, Bankman-Fried, and two other company executives, Nishad Singh and Gary Wang, were aware of the decision to send client funds to Alameda.

Given the huge gap in the company’s balance sheet and a history of crypto exchange crashes that locked up user deposits, creditors are faced with an uncertain future.

The US administration is following these developments closely. US Treasury Secretary Janet Yellen said that Sam Bankman-Fried’s collapse of the FTX cryptocurrency exchange confirms his view that the cryptocurrency market requires very careful regulation.

Yellen also stated that the FTX crash could be worse if cryptocurrencies become more integrated into the financial system.

*Not investment advice.