The Financial Times has seen a replica of an FTX balance sheet dated to Thursday, November 10, which reveals the bankrupt crypto trade had solely $900mn of property it may simply promote, regardless of having $9bn of liabilities. Here’s the story:
The doc, shared with potential traders earlier than the chapter, offers an in depth image of the monetary gap within the FTX crypto empire and suggests clients of FTX worldwide could face steep losses on money and crypto property they held on the trade.
Do learn the complete report. And after that, have a browse of the supply doc. (H/T Antoine Gara et al.)
Metadata on the Excel file suggests it was created by Sam Bankman-Fried himself. It appears affordable subsequently to imagine that the casual feedback are his.
Also observe the headline disclaimer:
Note: all of those are tough values, and could possibly be barely off; there’s additionally clearly an opportunity of typos and so on. They additionally change a bit over time as trades occur.
Let us know within the feedback for those who spot something fascinating. The “$2.2bn” of the obscure, almost nugatory Serum token is an apparent spotlight, although we’d additionally wish to know extra about these illiquid investments together with “TWTR” and “TRUMPLOSE”.
Anyone with data to share can use the FT’s safe contact strategies.