- A Monday court filing shows FTX holds $1.16 billion worth of SOL.
- The company reports over $16 billion in customer claims, with 10% settled.
Collapsed crypto exchange FTX holds more than $7 billion in total assets, a court filing showed on Monday. Solana (SOL) tokens take the lion’s share of the assets at $1.16 billion, with Bitcoin (BTC) holding at $560 million.
FTX held $3.4 billion in crypto as of August 31. The company had hundreds of millions of dollars tied in more than 1,300 lesser-known digital tokens. These tokens include Serum (SRM) and MAPS, with holdings of $362 million and $309 million, respectively.
The court document showed the Sam Bankman-Fried-led company had obtained $1.5 billion in cash. The cash is on top of the $1.1 billion the company held as of November 11.
Details also emerged of significant holdings in real estate in the Bahamas. The filing read in part, “38 properties in the Bahamas with $222 million book value appraised at $199 million.”
Over $16B Customer Claims Filed, Insider Dealings
According to the filing, about 36,075 customer claims had been filed with FTX as of August 24. The claims total $16 billion and touch FTX and FTX US. Only 10% of the claims have been settled.
There are more than 2,300 non-customer claims by entities such as Genesis, Voyager, and Celsius. The claims are worth $65 billion.
The filing also showed significant insider dealings by FTX executives before it filed for bankruptcy. Bankman-Fried and other senior executives received $2.2 billion in the months preceding the collapse. The receipts were in the form of cash, equity, crypto, and real estate.
The exchange says it has monetized $588 million in avoidance claims from FTX investments. It seeks another $16.6 billion, with over 50 potential actions against its former executives.
Meanwhile, cryptocurrencies have been hit by fears of an FTX dump. SOL fell the most at more than 4% as it was FTX’s biggest holding. Bitcoin crashed temporarily below $25,000 for the first time since mid-June.
