{"id":22220,"date":"2023-09-11T17:38:26","date_gmt":"2023-09-11T17:38:26","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/ftx-has-222m-in-bahamas-real-estate-1300-tokens-shareholder-presentation\/"},"modified":"2023-09-11T17:38:28","modified_gmt":"2023-09-11T17:38:28","slug":"ftx-has-222m-in-bahamas-real-estate-1300-tokens-shareholder-presentation","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/ftx-has-222m-in-bahamas-real-estate-1300-tokens-shareholder-presentation\/","title":{"rendered":"FTX has $222M in Bahamas real estate, 1,300 tokens: shareholder presentation"},"content":{"rendered":"
FTX has released its presentation materials for the shareholder meeting taking place Sept. 11-12. The unrestricted portion provides a clear overview of the company\u2019s current state and its slow march toward settlement.\u00a0<\/p>\n
The shareholders will begin their day with an account of the claims against the cryptocurrency exchange. Over 2,300 non-customer claims have been filed against it, including those from Genesis, Celsius and Voyager. The claims are worth $65 billion, although those from FTX Digital Markets are \u201cassumed to be invalid\/redundant\u201d and the Internal Revenue Service\u2019s claim \u2013 the largest at $43.5 billion \u2013 is assumed to be subordinated.<\/p>\n
Based on information from August, 36,075 customer claims, worth $16 billion, have been filed against FTX and FTX.US, and 10% of those have been agreed on. <\/p>\n
FTX assets including digital assets, cash, brokerage investments, its venture portfolio, tokens and real estate top $7 billion. FTX owns 38 properties in the Bahamas worth $222 million at book value. <\/p>\n
Related: Binance\u2019s Richard Teng denies FTX comparisons: \u2018We welcome the scrutiny\u2019<\/em><\/strong><\/p>\n The company has monetized $588 million in avoidance claims so far. All that money has come from investments made by FTX, and it is looking at another $16.6 billion in identified potential avoidance claims from investments. In addition, it has identified over 50 potential actions against \u201cinsiders,\u201d including Sam Bankman-Fried, Nishad Singh, Gary Wang, Caroline Ellison and 46 others, for a total of $2.2 billion. <\/p>\n