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(Bloomberg) — Sam Bankman-Fried’s FTX Buying and selling alternate held $900 million in liquid belongings towards $9 billion of liabilities the day earlier than Friday’s chapter submitting, the Monetary Occasions reported Saturday, citing funding supplies the newspaper had seen.
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A lot of the recorded belongings are both illiquid enterprise capital investments or crypto tokens that aren’t extensively traded, in response to the spreadsheet. The largest asset as of Thursday was listed as $2.2 billion price of a cryptocurrency known as Serum.
Bankman-Fried was additionally trying to promote $472 million of Robinhood Markets Inc. shares at about $9 apiece till Friday afternoon, the FT reported, citing an individual concerned within the negotiations.
The information additionally present Bankman-Fried was looking for to boost $6 billion to $10 billion, together with a convertible most popular inventory challenge paying 10% that may later be transformed into widespread fairness in FTX Worldwide at between $12 billion and $15 billion.
The spreadsheet additionally referenced $5 billion of withdrawals final Sunday, and a unfavorable $8 billion entry that Bankman-Fried advised the FT was associated to funds “by chance” prolonged to his Alameda buying and selling agency.
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