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FTX Dockets

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Date
Docket NameDocket Name
Docket  No.
Docket NameDocket Name
Details
Docket SummaryDocket Summary
August 21, 2024
August 21, 2024
23455
FTX files July 2024 monthly operating reports
On 8/21/2024 the Debtors filed their July monthly operating reports. Cumulative cash held by the Debtors exceeds $11.9B and over $1B of cryptocurrency remains (at petition date values), which we estimate has a rough market value of $2.5B. During July $28.8M was collected from the sale of FTX Japan and $230M from the liquidation of cryptocurrency pursuant to their sale arrangement with Galaxy.
August 2, 2024
August 2, 2024
22163
FTX plan supplement filed
On August 2, 2024 the Debtors filed the Plan Supplement. The exhibits of the supplement detail various additional aspects of the plan, including, a draft Plan Administration Agreement, a draft Liquidating Trust Agreement, a list of Wind Down Board Members, a list of Advisory Committee Members, a list of excluded customer preference actions, and a wind down budget.
August 2, 2024
August 2, 2024
22165
FTX files first amended plan
Blacklines comparing the original plan and the first amended plan are available at docket #22166. The plan adds a definition for "Contract Rate". This clarifies that claims will acrues interest at the lower of the "Conensus Rate" and the "Contract Rate".
July 23, 2024
July 23, 2024
21037
FTX files June 2024 monthly operating reports
#FTX The estate continued to aggressively convert assets to cash during the month of June. The cash pile now exceeds $11B and liquid assets likely around $14B. FTX liquidated approximately $910M of cryo through its liquidation program with Galaxy and collected over $452M for the sale of the remaining Anthropic shares.
July 12, 2024
July 12, 2024
20344
FTX files notice of compromise with CFTC
On July 12, 2024 at docket #20344 the FTX Debtors filed a proposed stipulation with the Commodity Futures Trading Commission, which has filed a claim of approximately $52.2b in the case. Highlights include: (1) Effective at plan confirmation, (2) Allowed disgorgement claim of $4B, (3) Claim shall be subordinated to payment of all creditors and payment of interest at the Consensus Rate, (4) Recoveries on the claim shall be applied only to make supplemental payments to certain creditors under the Supplemental Remission Fund under the plan, (5) The CFTC shall have no other claim in the case, (6) Resolves the ongoing litigation in the District Court, (7) CFTC will not seek a civil monetary penalty.
June 23, 2024
June 23, 2024
18537
FTX files revised restructuring plan and disclosure statement
FTX filed a revised restructuring plan, disclosure statement, and notice of blackline changes at docket numbers 18537 - 18539.
June 21, 2024
June 21, 2024
18390
FTX files May 2024 monthly operating reports
FTX filed monthly operating reports for the debtors on docket entries #18390 - 18481. Across all debtors the estimated liquid estate assets increased about 5% to $13.7B. Collectively the debtors have over $10.3B in cash. During May the estate liquidated about $564M in crypto for cash under their standing order to sell cryptoassets, increasing the debtor's cash position to over $10B. Not mentioned in the report is the proposed sale of the reamining Anthropic shares for $452.2M. Xclaim now estimates the debtors overall assets at about $16.9B.
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