FTX’s entities had a total of around $1.24 billion in cash balances as of Nov. 20, according to a new court filing out late Monday, as lawyers of the cryptocurrency exchange said a substantial amount of assets are missing during its first appearance at a Delaware bankruptcy court on Tuesday.
The filing by Alvarez & Marsal North America says FTX and his team managed to trace “substantially higher cash balances” than they had initially been able to identify by Nov. 16. The announcement comes as FTX clients are growing concerned about recovering their money.
The balances include FTX and partner companies ranging from the trading group Alameda Research to international subsidiaries. The largest sum, $393.1 million, comes from Alameda Research. The second-biggest balance is $303.4 million from platform LedgerX.
Alvarez & Marsal North America is advising FTX on restructuring efforts after the exchange filed for bankruptcy protection earlier this month.
A separate filing on Saturday said the company owed $3.1 billion to its largest 50 unsecured creditors.
Also on Tuesday, FTX founder Sam Bankman-Fried, his parents and FTX senior executives bought at least 19 properties worth nearly $121 million in the Bahamas over the past two years.
According to official property records of the Caribbean country most of FTX’s purchases were luxury beachfront homes.
