Bankruptcy Court Filing Exposes $6.8B Hole in FTX Balance Sheet

According to a recent court filing, Sam Bankman-Fried’s cryptocurrency conglomerate, FTX, had a balance sheet deficit of $6.8 billion at the time of its bankruptcy filing in November of last year.

The documents also revealed that FTX.com was responsible for a $10.6 billion shortfall, while FTX.US had a $87 million deficit. FTX Ventures and Alameda Research, sister trading companies, had net assets of $1.3 billion and $2.6 billion, respectively.

Overall, the group of companies had $11.6 billion in debts, the majority of which were customer claims, and $4.8 billion in assets. However, it should be noted that the statements were not audited and are subject to change.