How Much Cryptocurrency Does FTX Really Own?
Court documents have unveiled that FTX, a crypto exchange currently undergoing bankruptcy proceedings, maintains assets exceeding $3 billion as of August 31, 2023.
Reported on August 31, 2023, by crypto journalist Colin Wu on the social media platform X, FTX still held close to $2 billion in cryptocurrencies, including Solana (SOL), Bitcoin (BTC), and Ethereum (ETH).
Specifically, on August 31, FTX’s crypto assets amounted to $3.4 billion, comprising $1.16 billion in SOL, $560 million in BTC, $192 million in ETH, $137 million in Aptos (APT), $120 million in Tether (USDT ), $119 million in XRP, $49 million in BitDAO (BIT), $46 million in Stargate Finance (STG), $41 million in Wrapped Bitcoin (WBTC), and $37 million in Wrapped Ethereum (WETH).
According to documents from Kroll Restructuring, the exchange has successfully secured funds through the Chapter 11 bankruptcy process, with court records confirming the availability of $2.6 billion in debtor and non-debtor cash to date.
The documents further reveal that FTX acquired these funds by skillfully navigating the financial uncertainties of Q1 2023, securing fiat from more than 30 global banking institutions.
READ MORE: FTX Set to Liquidate $3.4 Billion in Cryptocurrency
These funds have been consolidated in a master account to protect the assets of the estate. The increase in unrestricted cash is primarily attributed to monetizing venture investments and converting stablecoins.
In addition, the documents highlight FTX’s substantial holdings of securities in its brokerage accounts, totaling over $500 million.
These investments encompass $70 million in the Grayscale Ethereum trust, $36 million in the BitWise 10 Crypto Index Fund, $6 million diversified across various Grayscale funds, less than $1 million in BlackRock equity, and a significant $417 million invested in Grayscale’s Bitcoin trust, constituting 79% of FTX’s securities portfolio.
Alexander Stefanov
Reporter at CoinsPress
Alex is Editor-in-Chief of Coinspress and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
