, 2023-01-17 13:40:00,
Post Presentation With Details on Digital Assets and Other Property of the FTX Debtors
Identified Approximately $5.5 Billion of Liquid Assets to Date, Confirmed Material Shortfalls at Both International and US Exchanges
WILMINGTON, Del., Jan. 17, 2023 /PRNewswire/ — FTX Trading Ltd. and its affiliated debtors (together, the “FTX Debtors”) today announced that their top level management and advisors met with the members of and advisors to the Official Committee of Unsecured Creditors (the “UCC”) in their chapter 11 cases this morning as part of their ongoing efforts to share preliminary information obtained since the commencement of the chapter 11 cases on November 11, 2022 (the “Petition Date”), and to provide an update regarding asset recovery efforts to date.
A presentation was used in the meeting with the UCC, which the FTX Debtors will file on the docket in the chapter 11 cases today. The presentation highlights that a total of approximately $5.5 billion of liquid assets have been identified, comprised of $1.7 billion of cash, $3.5 billion of crypto assets and $0.3 billion of securities. The presentation also provides details with respect to the assets and property of the FTX Debtors, including cash, digital assets, investment securities, real estate, investments, businesses and other property. All stakeholders are invited to review the presentation, which the UCC is doing as well.
The FTX Debtors also confirmed that, based on current estimates of the amount of…
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