2022-11-14
Before FTX file chapter 11 bankruptcy. FTX has $900 million in liquid asset but it has $8.9 billion in liabilities.
FTX at its peak, was valued $32 billion. Its value went to
zero after the company file for bankruptcy.
The most liquid asset of FTX is Robinhood stock valued roughly
$470 million own by Emergent Fidelity Technologies. The company solely own by
Sam Bankman-Fried and it does not associate with Fidelity Investments.
Emergent Fidelity Technologies own 56,273,469 shares of
Robinhood, represent 7.6% stake of the company. Another asset own by FTX is
Serum. It has the market capitalization of $65 million, however the value of
Serum keeps decreasing.
Total assets of FTX worth $9.6 billion but many of the assets are
not the assets that easily turn into cash.
