FTX Says $8.9 Billion in Customer Funds Are Missing

FTX says it has identified a deficit of $8.9 billion in customer funds that it can’t account for, the first time the bankrupt cryptocurrency exchange has pinned down how much money has gone missing.

In a public presentation released on Thursday, FTX said it had identified around $2.7 billion of customer assets, compared with $11.6 billion of balances outstanding on customer accounts. The estimated value of FTX’s assets and liabilities are based on crypto prices on the day of the company’s bankruptcy filing in early November.

Source: FTX Says $8.9 Billion in Customer Funds Are Missing