Filing: FTX's estate has now marshalled ~$7B in assets, including $2.6B in cash, $1.16B in solana, $560M in bitcoin, and ~$200M in 38 properties in the Bahamas
CoinDeskJack Schickler
Context & Ripple Effects
FTX’s recovery effort had already extended beyond exchange-held balances: the estate had sought the return of digital assets transferred to the Bahamas and outlined a bid to recover funds tied to Alameda’s Modulo investment. This filing gives a more concrete view of the asset base those efforts are meant to rebuild.
The mix matters because a large share is cash, while substantial holdings remain in Solana and bitcoin. That leaves the estate’s creditor-repayment capacity partly dependent on how it manages crypto assets rather than solely on recovered cash.
First-order effects
FTX’s estate has a clearer, larger identified pool of liquid, crypto, and property assets to administer for creditors and bankruptcy expenses.
The estate must manage concentration in Solana and bitcoin alongside its cash balance; the reported values can move before assets are converted or distributed.
Second-order effects
Creditors gain a firmer basis for assessing potential recoveries, while disputes over asset ownership and alleged transfers become more consequential to the final pool.
Any eventual sales, hedging, or staking of the crypto inventory could make the estate an active participant in the markets for the tokens it holds; subsequent coverage shows the court later permitted sales, hedging, and staking of those holdings.
Third-order effects
The case illustrates how major crypto insolvencies turn bankruptcy administration into both an asset-recovery exercise and a market-risk-management problem.
If similar failures hold sizable native-token positions, creditor outcomes will increasingly depend on custody records, recovery litigation, and orderly liquidation mechanisms—not merely the cash found at filing.
The trend: Crypto bankruptcies are evolving into complex recoveries in which volatile token inventories and cross-border asset claims shape creditor payouts.
Contemplating an offer for FTX's holding tokens and assets to reduce their selling impact on the crypto community. Let's unite to bolster our crypto ecosystem!🙏
As of August 31, FTX held a total of US$3.4 billion in crypto assets, including: US$1.16 billion SOL $560 million BTC $192 million ETH $137 million APT $120 million USDT $119 million XRP $49 million BIT $46 million STG $41 million WBTC $37 million WETH. Read more... [image]
FTX LIQUIDATIONS UPDATE FTX liquidators hold approximately $1.3 billion of liquid crypto assets (excluding stablecoins) which have been dragged down by fear of FTX liquidations potentially beginning Wednesday. Largest holdings: $SOL, $BTC, $ETH, $APT, $DOGE, $TRX, $MATIC... [imag…
FTX estate has contacted more than 75 bidders since at least May 2023 to evaluate the possibility of relaunching the bankrupt cryptocurrency exchange, documents show. The deadline for bids for FTX 2.0, which is aimed at relaunching FTX com or FTX US through an acquisition,... [im…
New slide deck out on FTX bankruptcy. Link here- https://restructuring.ra.kroll.com/ ... There's a few slides on FTX 2.0 that look good. One other big thing worth mentioning is customer clawbacks...
We just posted a quick overview of the assets to keep an eye on (and which are experiencing the highest stress or potential forced selling) in advance of the potential FTX liquidations on Wed. Alpha: [image]
An updated FTX asset report was just released.🚨 On Wednesday, they will likely get approval to liquidate their $3.4b worth of crypto. Here is a breakdown of the assets: $SOL: $1.16b $BTC: $560m $ETH: $192m $APT: $137m $XRP: $119m $BIT: $49m $STG: $46m [image]
1/2 It's worth remembering that if they go to implement this, you should check with counsel before responding. Especially outside the US. For example, Canada has way more protections against consumer clawbacks unless you had insider knowledge.
Yeah I don't think court appointed liquidators will accept: -Fake unbacked stablecoins -From a disgraced former ambassador -Who is under charges with the SEC for fraud -Under investigation in China for money laundering -And owns two underwater exchanges... [image]
From a new stakeholder update, here's a breakdown of the funds that FTX invested in as a limited partner, including $60 million committed to Sino Global and $35 million to Paradigm: [image]