FTX presentation shows ‘massive shortfall’ in firm’s assets

FTX stakeholder report shows 'massive shortfall' of assets

FTX has a “massive shortfall” in assets, according to a presentation filed Thursday in the bankruptcy proceedings of the failed crypto exchange.

crypto news – Debtors Declare ‘Massive Shortfall’ in FTX Assets, FTX US Also In the Red

crypto news, A concerted effort to establish and stock the remaining belongings of failed cryptocurrency alternate FTX has revealed "the magnitude of the shortfalls

Debtors Declare 'Massive Shortfall' in FTX Assets, FTX US Also In the Red

"The exchanges' assets were highly commingled, and their books and records are incomplete and, in many cases, totally absent."

FTX presentation shows 'massive shortfall' in firm's assets

FTX and FTX US together have billions in deficits in their exchange wallets and fiat accounts, uncovered in a

FTX presentation shows ‘massive shortfall’ in firm’s assets

Crypto exchange FTX has presented further information on the firm's assets, revealing billions of dollars are missing from exchange wallets and cash accounts.

FTX stakeholder report shows 'massive shortfall' of assets

It's still not possible to accurately calculate or predict customer recoveries at this time, FTX CEO John Ray III said in a new presentation filed Thursday in the failed crypto exhange's ongoing bankruptcy proceedings. The presentation confirmed a “massive shortfall” in assets for FTX and its corporate family. Using spot prices as of March 1, more than $2.2 billion in total crypto assets have been located in wallets associated with FTX.com. Of t…