TLDR:
- FTX estate now holds about $136B, covering crypto, equity, and cash, based on court documents and new valuations.
- About 98% of creditors have received 120% repayment, with final payouts expected to reach up to 143%.
- FTX’s largest holdings include Solana ($12.4B), Anthropic ($14.3B), and Robinhood ($7.6B).
- SBF insists customer funds “never left the platform,” saying FTX was always solvent on a fair-value basis.
The story of FTX has taken another turn. Sam Bankman-Fried, the exchange’s founder, stated that FTX was never truly insolvent. He claimed that all $8 billion owed to customers still exists and that repayments are almost complete.
According to him, about 98% of creditors have already received 120% of their funds. Court filings and updated financial data suggest the bankruptcy estate still holds an estimated $8 billion in surplus assets.
FTX Assets Now Valued at Over $136 Billion
Data shared by Wu Blockchain shows that FTX’s petition-date holdings are now worth roughly $136 billion.
The assets include $14.3 billion in Anthropic equity, $7.6 billion in Robinhood stock, and $1.2 billion in Genesis Digital Assets. The estate also controls equity stakes in companies like SpaceX through K5 Global, valued at around $600 million.
Crypto holdings make up a major share of the remaining balance. The exchange owns 58 million SOL worth $12.4 billion and 890 million SUI valued at $2.9 billion.
Other holdings include 205,000 BTC valued at $2.3 billion, 225.4 million XRP at $600 million, and 112,600 ETH worth $500 million. In addition, the estate still retains $1.7 billion in cash and $345.2 million in stablecoins, according to the records cited by Wu Blockchain.
The data suggests that even after covering billions in legal fees and customer claims, FTX remains heavily capitalized.
Analysts reviewing the filings estimate that the estate still holds about $8 billion more than the total debt owed. This would allow customers to receive between 119% and 143% repayment once the process ends.
SBF Insists Customer Funds Were Always Intact
Sam Bankman-Fried stated that the $8 billion in customer assets “never left the platform.” He claimed the bankruptcy was caused by liquidity mismanagement, not insolvency.
In a recent post shared by Wu Blockchain, he said that FTX’s assets were always greater than its liabilities once market prices were updated.
He further suggested that current valuations reflect how much the exchange’s early investments appreciated since 2022. Anthropic’s valuation, for example, surged due to the AI boom, while Solana and Bitcoin prices rebounded sharply.
These gains transformed FTX’s previously illiquid portfolio into a cash-positive balance sheet.
According to the latest reports, customer repayments are almost finalized, with most creditors having already received over 120% of their claims. The process continues under court supervision, with remaining distributions expected to conclude once legal and administrative costs are settled.
The post SBF Claims FTX Has $8B Remaining, Says Exchange Was Never Insolvent appeared first on Blockonomi.
Source: https://blockonomi.com/sbf-claims-ftx-has-8b-remaining-says-exchange-was-never-insolvent/