Analysis of FTX’s Balance Sheet
Quick Take
- Financial Times publishes leaked FTX balance sheet dated to Thursday, November 10, 2022
- ~$900mm liquid assets to ~$8,860mm liabilities, a ~9.85x dislocation contrary to disgraced former CEO Sam Bankman-Fried’s tweets earlier this week
- Pro forma liquid assets adjusted for Robinhood stake and Friday evening’s attack would reflect a sub 1 cent recovery, excluding less liquid and illiquid assets
- Latest development in FTX”s ongoing fraud and subsequent bankruptcy investigation
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Author: Greg Lim
