FTX Ventures bankruptcy filing: Internal organization is chaotic, financial data is missing and its authenticity is questionable

ChainCatcher news, according to documents submitted to the bankruptcy court in Delaware, USA, on Thursday, the internal organization of FTX Ventures is chaotic and complex, with some financial data missing and its authenticity in doubt. The document shows that FTX Ventures both invests and receives investments, spreading its funds across Clifton Bay Investments LLC, FTX Ventures Ltd, Island Bay Ventures Inc, and several potential subsidiaries.

Among these entities, Clifton Bay Investments and FTX Ventures are the only ones that prepare quarterly financial statements, which indicate that Clifton Bay has $1.5 billion in liabilities, most of which come from "payables to related parties," meaning amounts owed to other FTX-owned entities, including $1.4 billion to Alameda Research and $68.6 million, $38.5 million to Alameda Ventures, and $2.25 million to West Realm Shires Services (FTX US).

FTX's legal team has warned that they doubt the authenticity of the financial statements and pointed out that the balance sheet was unaudited and unprepared during SBF's tenure. Previously reported, last Friday, Amy Wu, a former partner at Lightspeed Ventures responsible for FTX Ventures, announced her resignation. (CoinDesk)