Will FTX Dump Its Crypto Holdings?

In case anyone needs a reminder here's What happened during fdx's collapse Which occurred over a 10-day period in November of 2022. The Crisis began on November 2nd after coindesk published an Article claiming that sbf's hedge fund Alameda research owned a significant Portion of the Native FTX token ftt on Its balance sheets this caused serious Concerns about ftx's liquidity it became Apparent that both ftx's and Alameda Researches liquidity were heavily Dependent on the price of ftt which had Sunk in price along with the wider Crypto Market at the same time neither Company was properly Diversified and They were far too closely tied together Most of alameda's funding came directly From fdx's customer deposits what's more The balance sheets showed nine billion Dollars in liabilities with only 900 Million dollars in assets which equaled A negative balance of 8 billion dollars Fjx customers began withdrawing their Funds as fast as they could which led to The crypto equivalent of a bank run in An attempt to stem the bleeding FTX Blogged its customers from withdrawing Their money even So within a matter of Days FTX Alameda and the ftt token had Completely collapsed binance whooped in To buy the flailing firm but backed out Shortly thereafter once it had taken a Closer look at ftx's books Reuters news

Agency then reported that SPF had Secretly moved 10 billion dollars in Funds to Alameda research and that Between one to two billion dollars in Client funds were unaccounted for this Led to further panic and also outcry With many calling for spf's arrest so This brings us to the question how much Crypto does FTX still control Well the list of cryptocurrencies in the FTX bankruptcy estate can be found on The CMC category page which I'll leave a Link to down below meanwhile on Arkham The FTX entity currently has over 403 Million dollars in crypto tokens in its Wallet according to the recently filed Restructuring documents FTX FTX us and Automated research together still held 3.4 billion dollars in crypto assets out Of a total of seven billion dollars in Assets in recovery according to the Report the bankrupt exchange estate Consists of Solana at the top at 1.162 Billion dollars then Bitcoin at 560 Million ethereum at 192 million Aptos at 137 million tether at 120 million xrp at 119 million bid Dao at 49 million Stargate at 46 million wrapped Bitcoin At 41 million wrapped ether at 37 Million other smaller crypto assets that FTX controls are considered category B Tokens which are tokens that fail to Meet liquidity thresholds and or largely Controlled by the estate these comprise

Of over 1300 tokens including Serum at 362 million maps at 309 million oxygen At 164 million Ronin at 6 million blur At 3 million according to FTX bankruptcy Filings the exchanges seeking approvals From the court to sell 100 million Dollars worth of coins and tokens weekly With the amount potentially increasing To 200 million this is to minimize Market disruption while also maximizing Returns for its defrauded customers the Hearing is scheduled for September 13th So now let's transition to the next Important question which is what other Assets does FTX still control While ftx's non-crypto assets consists Of three different acid classes Brokerage Investments Venture Capital Investments in real estate FTX controls 529 million dollars in brokerage Investments made up of grayscale Bitcoin Trust at 417 million grayscale ethereum Trust at 70 million bitwise 10 crypto Index Fund at 36 million grayscale Litecoin ethereum classic and a large Cap trust at 6 million dollars BlackRock Equity Fund at under 1 million ftx's Venture portfolio is valued at 4.5 Billion dollars and includes Equity Investments in 213 companies valued at 2.93 billion dollars and also limited Partnerships with 40 companies valued at 732 million dollars in Investments and Limited Partnerships with 40 companies

Valued at 732 million dollars Investments in 174 tokens valued at 507 Million dollars and Loans to 11 Companies worth 368 million dollars Ftx's real estate assets include 38 Properties valued between 185 million to 214 million dollars as shown here so It's important to remember that book Prices for property don't necessarily Represent recoverable value only what an Appraiser believes that they are worth So what has happened to FDX since SPF Was arrested SPF was quickly replaced as CEO by John J Ray III a corporate restructuring Specialist who oversaw enron's Liquidation after 82 found to have Carried out a massive fraudulent scheme The investigation into SPF and FTX is Still ongoing but U.S law enforcement Have already discovered that SPF use Customer deposits to support FTX and Alameda's operations and Investments to Fund speculative Investments to donate To charity to lobby for positive crypto Regulation and to enrich himself Accordingly he now faces new charges Related to Commodities fraud and for Violating campaign Finance laws he has So far pleaded not guilty to all charges Spf's bail was revoked after accusations Of interfering with Witnesses and is Currently held in jail until his trial Starts in October FTX co-founder Gary

Wang and Alameda CEO Caroline Ellison Both pleaded guilty to fraud and other Charges in December of 2022 both are Cooperating with the U.S attorney's Office against SBF and FTX meanwhile FDX Executive Ryan salane has pleaded guilty To campaign finance charges and will be Forfeiting 1.5 billion dollars as part Of the plea deal the FTX Fallout is Already being compared to the Enron Scandal while SPF himself is now Considered one of the great investment Fraudsters alongside the likes of Bernie Madoff what happened to ftx's customers Money Well when you lend or invest your money With a bank the money is insured by the US government up to a certain limit but That's not the case with crypto whenever You hand cash over to an exchange or Crypto company like FTX nobody will bail You out if the company pulls the rug out From under the investors so when FDX Blocked customer withdrawals to try to Save itself the prevailing narrative was That investors would never get their Money back as is often the case in these Kinds of events however the prevailing Narrative wasn't quite right by January Of 2023 just three months after the peak Of the crisis about 5 billion dollars of The 8.7 billion shortfall in cash and Liquid assets had been recovered by Ftx's bankruptcy lawyers the lawyers

Also found FTX owed money to more than 9 Million creditors even though ftx's Lawyers have recovered substantial sums Of money the exchange's implosion is Expected to wipe out the Investments of Most of its larger investors by April 2023 ftx's lawyers managed to find a Further 2.8 billion dollars in cash in Liquid assets increase using the total Recovered to 7.3 billion dollars Commentine on the newly found funds Elite FDX lawyer Andy Detroit told Reuters that FTX had benefited from Increased crypto prices the situation Has stabilized and the dumpster fire is Out he said even with this newfound Money however FTX is still wrestling With a 1.5 billion dollar shortfall so Far only investors from Japan have been Able to withdraw their money from FTX Thanks to the country's strong crypto Regulations


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