New FTX Management Finds More Than $5B in Liquid Assets
The vast search for FTX-related assets continues to yield results.
Key TakeawaysThe new FTX Management has found over $5 billion worth of liquid assets.
These include liquid cryptocurrencies, cash, and liquid investment securities.
This sum does not include $425 million held by the Securities Commission in Bahamas nor the $490 millions recently seized from Sam Bankman-Fried by the Department of Justice.
“[It] just doesn’t ascribe any value to holdings of dozens of illiquid cryptocurrency tokens, where our holdings are so large relative to the total supply that our positions cannot be sold without substantially affecting the market for the token.” “[It] doesn’t assign any value to holdings dozens of liquid cryptocurrency tokens, where the total supply is so large that our holdings cannot be sold without substantially affecting market for the token.” Alameda Research’s positions are not included in the $5 billion figure. Alameda Research’s positions in tokens such as SRM, FIDA, MAPS, and OXY were previously valued high by the trading firm. The DOJ is also investigating who the hacker behind FTX stole at least $372million from the platform as it was collapsing. According to its bankruptcy filings, the company stated that the hole in its balance sheets was between $1 billion and $10 billion. However, Decentral Media, Inc. does not guarantee the timeliness, completeness, accuracy, or timeliness of any information accessed through this site. Decentral Media, Inc. does not provide investment advice. We do not provide personalized investment advice or any other financial advice. This website’s information is subject to change at any time. The information on this website could become obsolete or incorrect. You may not be able to update any information that is outdated, incomplete or inaccurate. We also reserve the right to change any information that is incorrect, incomplete or outdated. If you need investment advice about an ICO, IEO or other investment, we strongly recommend that you consult a licensed financial advisor or other qualified financial professional. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.See full terms and conditions.Recommended News