FTX has a massive $9.5 billion shortfall in top crypto and cash needed to repay customers, the bankrupt exchange's new bosses say
FTX has identified a $9.5 billion shortfall in top crypto and cash needed to repay customers, its new bosses have said, with just $694 million in currency that's easy to cash in.
The bankrupt crypto exchange's new executives have so far identified $2.2 billion in assets in the company's wallets, of which only $694 million were in the most liquid currencies, like fiat, stablecoins, bitcoin, or ethereum. "It has taken a huge effort to get this far. The exchanges' assets were highly commingled, and their books and records are incomplete and, in many cases, totally absent," CEO John Ray wrote.
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