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FTX Trading’s Liabilities Dwarfed Liquid Assets, FT Says

Sam Bankman-Fried

Sam Bankman-Fried

Photographer: Lam Yik/Bloomberg

Sam Bankman-Fried’s FTX Trading exchange held $900 million in liquid assets against $9 billion of liabilities the day before Friday’s bankruptcy filing, the Financial Times reported Saturday, citing investment materials the newspaper had seen.

Most of the recorded assets are either illiquid venture capital investments or crypto tokens that are not widely traded, according to the spreadsheet. The biggest asset as of Thursday was listed as $2.2 billion worth of a cryptocurrency called Serum.