Bahamas-based FTX Digital Markets effectively pooled corporate and client funds, and maintained “limited” accounting. About it declared representatives of the liquidators of the subsidiary of the bankrupt bitcoin exchange.
The document refers to “small differences” in the ownership of funds.
According to arbitration managers, there are ~$219.5 million in several bank accounts of FTX Digital Markets. They found it difficult to estimate the share of client assets.
FTX Digital Markets may have over 2.4 million users in over 230 jurisdictions, including 10,500 institutional.
The liquidators also uncovered $276.2 million of intercompany debt, which includes a $256.3 million debt owed to FTX Property “for possible financing of the acquisition of commercial and residential real estate in the Bahamas.”
Recall, the new head of FTX, John Ray, previously admitted that he had never seen such a complete failure of corporate control and the absolute absence of reliable financial information, as in the case of FTX.
Earlier, Ray announced a possible restart of the bitcoin exchange.
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