• FTX debtors reported that some of the company’s silos held $4 billion in scheduled assets and $11.6 billion in scheduled claims as of November 2022.
• The presentation also showed $25 million in donations, including political donations.
• FTX paid out approximately $3.2 billion to high-level executives, with Sam Bankman-Fried receiving the lion’s share at $2.2 billion.
FTX Silo Assets
Debtors reported that FTX silos held $4 billion in scheduled assets and $11.6 billion in scheduled claims as of Nov 2022. The presentation showed $25 million in donations, including political donations.
Alameda Research Funds
As part of a filing with the U.S. Bankruptcy Court for the District of Delaware on Friday, debtors submitted a presentation to the committee of unsecured creditors which included the company’s statement of financial affairs detailing its scheduled assets and claims. The West Realm Shires silo, which includes FTX US and Ledger X, FTX.com, Alameda Research, and FTX Ventures had around $4.8 billion in scheduled assets and $11.6 billion in scheduled claims according to the filing with Alameda Research holding about $2.6 billion in scheduled assets but potentially material claims filed as undetermined while FTX Ventures‘ claims remained undetermined .
The presentation showed $25 million in donations from three of these silos but added that „limited information“ was available on crypto donations Debtors have reported more than 53 million tokens including Bitcoin Ethereum and XRP as collateral for crypto-collateralized loans with most tokens being the FTX token Additionally “additional tracing of wallet and blockchain activity remains an ongoing matter” .
High Level Executives Paid Out
According to a previous court filing approximately 3 2 billion was sourced from Alameda Research funds and paid to high level executives Sam Bankman Fried “SBF” received 2 2 Billion followed by 587 Million to former director of engineering Nishad Singh 247 Million to co founder Gary Wang 87 Million to former Ftx Digital Markets Co CEO Ryan Salame 25 Million to former Alameda Co CEO John Samuel Trabucco 6 Million Former Alameda CEO Caroline Ellison received 6 million .
FTX Bankruptcy Case
FTX’s bankruptcy case has been underway since November 2022 when it filed for Chapter 11 protection Furthermore SBF is facing both criminal and civil charges for his involvement in allegedly fraudulent activities at the company .