FTX Owns $7bn In Assets And Real Estate
While FTX is scrambling to raise funds to pay back affected customers, new details have surfaced about the bankrupt company's existing investments and holdings.
The court filings indicate that the company holds a total of $3.4 billion in cryptocurrency, including $1.16 billion in SOL and beyond. FTX also received $1.5 billion in cash in addition to the $1.1 billion already held.
It was also revealed that Bankman-Fried and other top executives including Nishad Singh, Gary Wang and Caroline Ellison received a total of $2.2 billion in cash, cryptocurrency and real estate in the months before the bankruptcy. This is a significant detail in the filing, as under US law, these funds can be distributed to affected creditors.
The top executives also purchased 38 condos and penthouses in the Bahamas for a total value of $200 million.
