FTX Trading’s Liabilities Dwarfed Liquid Assets, FT Says

Sam Bankman-Fried’s FTX Trading exchange held $900 million in liquid assets against $9 billion of liabilities the day before Friday’s bankruptcy filing, the Financial Times reported Saturday, citing investment materials the newspaper had seen.

Most of the recorded assets are either illiquid venture capital investments or crypto tokens that are not widely traded, according to the spreadsheet. The biggest asset as of Thursday was listed as $2.2 billion worth of a cryptocurrency called Serum.

Bankman-Fried was also looking to sell $472 million of Robinhood Markets Inc. shares at about $9 apiece until Friday afternoon, the FT reported, citing a ...