2023-03-14
Key Takeaway
FTX needs to return $1.6 billion worth of
bitcoins to customers but its balance sheet found only $1 million worth of bitcoins.
FTX’s balance sheet shows the company
has $5.5 billion in liquid assets and $11.5 billion liabilities. $6 billion is
the lost value. FTX needs to return $1.6 billion worth of bitcoins to customers
but its balance sheet found only $1 million worth of bitcoins available to pay
back to customers. For ETH, FTX owes it customers 922 ETH with only 9 ETH
available to pay back to customers.
FTX’s balance sheet reference from a Twitter user @tier10k
-$3.5b
in 'liquid' coins
-$1.7b cash -$800m 'illiquid' coins (SRM, MAPS etc aka zero)
-$500m FTT (zero) -$250m stonks (mostly GBTC)
-$4.5b book value venture investments (worth who knows in reality) ~$5.5b
'liquid' assets ~$11.5b customer liabilities
