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Business Maverick: FTX Owned a Vehicle Fleet In the Bahamas. Liquidators Are Selling it for $2.4 Million.

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Liquidators in the Bahamas tasked with winding up the Caribbean outpost of Sam Bankman-Fried’s collapsed crypto empire are readying the sale of a vehicle portfolio as they seek to generate cash to return to creditors.

FTX Digital Markets Ltd. owned a fleet of vehicles used by employees with a book value of $2.4 million, according to a liquidators report issued on Friday. Joint Party Liquidators at Lennox Paton and PwC are looking at selling assets held by FTX’s Bahamian unit, from which Bankman-Fried ran the exchange before its dramatic collapse last year.

Selling FTX’s large vehicle fleet may be one of the more straightforward tasks faced by liquidators of the exchange. The first interim report issued since the company’s collapse belies the daunting task of untangling a fraught web of assets and connections at the heart of FTX’s global empire. Of the $219.5 million that FTX Digital held in bank accounts, approximately $44.8 million is stored with banks that the liquidators declined to name as they have yet to recover the funds for the estate.

 

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