The Official Committee of Unsecured Creditorsin the chapter 11 proceedings of FTX Trading Ltd. and its connected debtors met today. They provided a presentation that they would be filing on the docket in the chapter 11 cases today. The presentation details the size of the shortages found in the fiat bank accounts and digital asset wallets connected to the FTX.com and FTX.US exchanges for the first time in the public.
John J. Ray III, the Chief Executive Officer and Chief Restructuring Officer of the FTX Debtors, said:
“This is the second in what the FTX Debtors anticipate will be a series of presentations as we continue to uncover the facts of this situation. It has taken a huge effort to get this far. The exchanges’ assets were highly commingled, and their books and records are incomplete and, in many cases, totally absent. For these reasons, it is important to emphasize that this information is still preliminary and subject to change. We believe it is more important to provide transparency to stakeholders by making this information public now than to wait until we can achieve certainty.”