On January 17, 2023 Trading Ltd. and its affiliated debtors informed the public that the current management of HighFTX had discovered $5.5 billion in liquid assets. HighFTX’s CEO, and its restructuring director. John J. Ray III met with the bankruptcy committee of unsecured creditors to share the news.
FTX Uncovers $5.5B in Liquid Assets: Borrowers Explore Ways to Maximize Recovery Through Potential Sale of Subsidiaries and Real Estate
A press release announcing that FTX had found $5.5 Billion In liquid assets by the close of MarchFTX, as stated Tuesday at 2:40 ET The debtors, including FTX CEO John J. Ray III announced that the group had identified the funds through an a “Herculean investigative effort.” The The According to company press release, they have found $3.5B in crypto assets and $1.7B in cash deposits. They also discovered approximately $3M in securities.
The FurtherAccording to the press release, the FTX was being relaunched. Team It was discovered that $323 is the most expensive amount of all. Million was lost because of an unauthorized third-party transaction before the Chapter 11 bankruptcy filings were made November 11, 2022. Additionally, $426 million.” They They were transferred to a cold storage under the supervision of Securities Exchange Commission This Is The Bahamas”, details the statement of the debtors.
FTX debtors disclosed that crypto assets were being held by FTX executives and restructuring teams. They also keep them in cold storage. “We have made significant progress in our efforts to maximize recoveries, and it has taken our team a Herculean investigative effort to uncover this preliminary information,” Ray Updated “We Ask Our stakeholders should be aware of the fact that this information may change. We We’ll Please send us more information as soon possible.
FTX Borrowers Review Historical Transactions, Voyager Blockfi Deals – $93 Million In political donations
The FTX’s press release includes a file that was shared with the unsecured creditors panel. This
FTX is currently examining ways to monetize their investments which are estimated to be worth $70 million. “$4.6 billion.”
FTX Debtors Aim to Achieve Maximum Recovery “marketing real estate in the Bahamas,” Investigators Are Investigating “all historical transactions” Referencing the deal.
The Real Estate Owned by the inner circle is worth around $205.5 Million. It Is Divided among 27 properties in the Bahamas. The Investigation of Notable transactions Involves the Voyager Blockfi Deals FTX Executives made $93 million in political donations between 1993-1995 March 2020 November 2022.
“Hundreds of [mergers and acquisitions] M&A and other transactions are under examination”, the presentation states. The Presentation Also Provides a graphical representation of the inner circle. Alameda Research, could “retire assets without [a] Record In the exchange ledger.
What What What do you think about FTX’s efforts to maximize recovery and uncover the truth behind unauthorized transfer? Share Please Comment below to share your thoughts.
