WHAT’S GOING ON? FTX Debtors File Motion to Hide the Names of FTX Creditors

WHAT’S GOING ON? FTX Debtors File Motion to Hide the Names of FTX Creditors

Posted For: Layla Godey 

By Joe Hoft

FTX, which is now in bankruptcy has numerous questionable entries in its financials.  Now the company is requesting that its list of creditors be kept hidden. 

This past week TGP reported that FTX’s balance sheet included an investment labeled “Trump Lose”.

Zerohedge reported on the financials that FTX maintained which were a travesty.  The financials of FTX included the following:

According to Ray, he has located “only a fraction” of the digital assets of the FTX Group that they hope recover during the Chapter 11 bankruptcy. They’ve so far secured about $740 million of cryptocurrency in offline cold wallets, a storage method designed to prevent hacks. This is just a fraction of the $10-$50 billion in liabilities the company disclosed in its bankruptcy filing.

How do we know it’s a fraud: as Ray writes on page 24, although the investigation has only begun and must run its course, it is my view based on the information obtained to date, “that many of the employees of the FTX Group, including some of its senior executives, were not aware of the shortfalls or potential commingling of digital assets.” Many maybe not, but some – and certainly SBF himself – did.

According to Ray, he has located “only a fraction” of the digital assets of the FTX Group that they hope recover during the Chapter 11 bankruptcy. They’ve so far secured about $740 million of cryptocurrency in offline cold wallets, a storage method designed to prevent hacks. This is just a fraction of the $10-$50 billion in liabilities the company disclosed in its bankruptcy filing.

How do we know it’s a fraud: as Ray writes on page 24, although the investigation has only begun and must run its course, it is my view based on the information obtained to date, “that many of the employees of the FTX Group, including some of its senior executives, were not aware of the shortfalls or potential commingling of digital assets.” Many maybe not, but some – and certainly SBF himself – did.

WHAT’S GOING ON? FTX Debtors File Motion to Hide the Names of FTX Creditors

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