FTX execs identify $2.2 billion in recovered assets, Binance-Voyager deal awaits regulator approval
Alright, crypto exchanges, FTX new executives say they have found a nine and a half billion dollar shortfall in crypto and cash needed to repay customers. To break it all down, we go live to Yahoo Finance reporter David Holler. Dave, what are we learning? Dave, so yesterday in a press release, the FTX's interim CEO, John Jay Ray, said it's taken a huge effort to get this far and the exchange's assets are highly commingled and that means that all these results as of now are still very much preliminary, meaning that they could change. So FTX has a nine point five billion dollar shortfall in crypto and cash to repay customers and just 694 million, excuse me, yes, 694 million in assets and 2.2 billion have been recovered and are easily sellable, meaning liquid. The group said it also went 9.3 billion to San Pankman Freed's Alameda research, FTX being the entity there.
In the shortfall for FTX US, the US subsidiary is smaller but still significant. It's $427 million against 335 million customer claims and 283 third party claims. So that's what we have as now with FTX. Alright, David, you're also tracking the latest between the SEC abducting to the Binance's proposal to buy a Voyager. What are we learning at this point? Yeah, so yesterday and today in a US bankruptcy court in New York, essentially the judge has been presiding over examining this plan for Voyager to sell a customer account and its remaining crypto assets to Binance US. Binance US being a US cryptocurrency exchange that's affiliated with Binance International but a separate legal entity. And that deal has become contentious.
Federal and state regulators as well as some Voyager customers, excuse me, creditors, customers turning creditors have filed objections since and they've shown up in the last two days to cross-examine and some people advising Voyager on this deal. Now today, we also saw CZ, the CEO of Binance International, again, as far as we know, not a part of this transaction. Take to Twitter, essentially to sort of, he made a joke about whether or not they should pull out of the deal but then went back to reiterate the support of Voyager or Binance US purchasing the assets. But the judge has been critical of both the SEC's argument, not yet offering enough evidence for why the deal can't go through and also regulators have been critical, including the SEC of Voyagers, advisors, I'm asking them some sharp questions as to Binance US's solvency.
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