According to reports a presentation filed in the bankruptcy court, Sam Bankman Fried’s crypto empire had a $6.8 billion shortfall in its balance sheet when it filed for bankruptcy in November 2021.
This comes after court documents revealing that FTX top brass has paid themselves $3.2B in bonuses in the months leading up to the chapter 11 filing. Coindesk reported that Sam Bankman Fried had paid himself a whopping $2.2B
The deficit included a $10.6 billion shortfall in the main FTX.com enterprise and a $87 million shortfall in FTX.US. Sister trading firm Alameda Research had assets of $2.6 billion, while FTX Ventures had net assets of $1.3 billion. The group of companies had debts of around $11.6 billion, mostly in customer claims, against $4.8 billion in assets.
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