That disclosure significantly raises the estimated amount of funds FTX claims to hold. Last month, FTX lawyers submitted filings that showed the company and its affiliates had a total of $1.2 billion in cash. The lawyers also said they had identified more than 9 million creditors — far more than earlier estimates of around 1 million. It remains unclear how much creditors will get back of the funds that were frozen after trading was halted as FTX began to unravel in November.
FTX’s implosion is expected to wipe out its equity investors, dozens of whom were identified in court filings this week. They include celebrities such as NFL star Tom Brady and supermodel Gisele Bundchen. Separately Wednesday, the New York Times asked the judge overseeing the criminal case against Bankman-Fried to unseal court records identifying two people who agreed to co-sign his lofty $250 million bond.
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I think they are truly recover
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