{"id":558789,"date":"2023-03-03T02:35:53","date_gmt":"2023-03-02T23:35:53","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/ftx-presentation-shows-massive-shortfall-in-firms-assets\/"},"modified":"2023-03-03T02:35:53","modified_gmt":"2023-03-02T23:35:53","slug":"ftx-presentation-shows-massive-shortfall-in-firms-assets","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/ftx-presentation-shows-massive-shortfall-in-firms-assets\/","title":{"rendered":"# FTX presentation shows &#8216;massive shortfall&#8217; in firm&#8217;s assets"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a27eea476058\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a27eea476058\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/ftx-presentation-shows-massive-shortfall-in-firms-assets\/#%E2%80%9D_FTX_presentation_shows_%E2%80%98massive_shortfall_in_firms_assets_%E2%80%9C\" >&#8221; FTX presentation shows &#8216;massive shortfall&#8217; in firm&#8217;s assets  &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_FTX_presentation_shows_%E2%80%98massive_shortfall_in_firms_assets_%E2%80%9C\"><\/span>&#8221; FTX presentation shows &#8216;massive shortfall&#8217; in firm&#8217;s assets  &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-48054ca8>Bankrupt cryptocurrency exchange FTX has revealed a &#8220;massive shortfall&#8221; in its digital asset and fiat currency holdings with billions worth of customer funds missing from both the exchange and its United States-based arm, FTX US.\u00a0 <\/p>\n<p>On Mar. 2 the exchange released a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/restructuring.ra.kroll.com\/FTX\/Home-DownloadPDF?id1=MTQ1MzEwNg==&amp;id2=-1\">presentation<\/a> showing FTX had $2.2 billion in exchange wallets and fiat accounts of which $694 million consisted of the most liquid &#8220;Category A Assets&#8221; that include cash, stablecoins, Bitcoin (BTC) and Ether (ETH) priced at the latest spot prices.<\/p>\n<p>Only $191 million of total assets were located in the wallets of the accounts associated with FTX US, in addition to $28 million of customer receivables and $155 million of related party receivables.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-03\/8730609f-ff76-4d0b-a7a0-f396e93e57b0.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>The balances of FTX&#8217;s wallets and accounts at the time of its bankruptcy showing an $8.6 billion deficit. Source: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/restructuring.ra.kroll.com\/FTX\/Home-DownloadPDF?id1=MTQ1MzEwNg==&amp;id2=-1\">FTX<\/a><\/em><\/figcaption><\/figure>\n<p>FTX wallets showed a $9.3 billion net borrowing by the exchanges sister trading firm Alameda Research and a $107 million net payable to Alameda from FTX US.<\/p>\n<p>FTX recorded surpluses across its less liquid &#8220;Category B Assets&#8221; that included its own FTX Token (FTT) but the holdings are insignificant compared to the deficits on its other held assets.<\/p>\n<p>In total FTX recorded an $8.6 billion deficit across all wallets and accounts while FTX US recorded a deficit of $116 million.<\/p>\n<p><strong><em>Related:\u00a0FTX Japan allows total withdrawal of funds \u2014 users rejoice the \u2018escape\u2019<\/em><\/strong><\/p>\n<p>John J. Ray III, the chief restructuring officer and CEO of FTX, said in a Mar. 2 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.prnewswire.com\/news-releases\/ftx-debtors-publish-second-presentation-for-stakeholders-301761345.html\">statement<\/a> the presentation is the second in a &#8220;<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/watch-movies-tv-seriess\/\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Watch Movies &amp; TV Series\" target=\"_blank\" rel=\"noopener\">series<\/a>&#8221; as it continues to &#8220;uncover the facts of this situation&#8221; and added:<\/p>\n<blockquote><p>&#8220;It has taken a huge effort to get this far. The exchanges&#8217; assets were  highly commingled, and their books and records are incomplete and, in many cases, totally absent.&#8221;<\/p><\/blockquote>\n<p>On Feb 28, former FTX engineering director, Nishad Singh pleaded guilty to charges of wire fraud along with wire and commodities fraud conspiracy.<\/p>\n<p>Singh\u2019s plea follows a number of Bankman-Fried&#8217;s close associates reportedly agreeing to cooperate with U.S. prosecutors in recent months.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/ftx-presentation-shows-massive-shortfall-in-firm-s-assets\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; FTX presentation shows &#8216;massive shortfall&#8217; in firm&#8217;s assets &#8220; Bankrupt cryptocurrency exchange FTX has revealed a &#8220;massive shortfall&#8221; in its digital asset and fiat currency holdings with billions worth of customer funds missing from both the exchange and its United States-based arm, FTX US.\u00a0 On Mar. 2 the exchange released a presentation showing FTX&#8230;<\/p>\n","protected":false},"author":1,"featured_media":558790,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2023-03\/169c2343-cb93-483a-8390-a15e033f6dca.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74894,74863,74860,135234,89897,4978,117],"class_list":["post-558789","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-blockchain","tag-cryptocurrencies","tag-cryptocurrency-exchange","tag-ftx","tag-sam-bankman-fried","tag-bankruptcy","tag-business"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/558789","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=558789"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/558789\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/558790"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=558789"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=558789"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=558789"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}