An Insight into FTX’s Liquid Assets: Kaiko Shares Details

The real-time and historical cryptocurrency data provider, Kaiko tweeted about the leaked slide from an “FTX bankruptcy deck”, where the fallen crypto exchange FTX enlisted the company’s “liquid assets”.

Notably, Kaiko shared the possibilities of expecting “any value when the holdings are liquidated”:

A slide from a FTX bankruptcy deck was leaked earlier this week, where FTX listed their «liquid» assets

Let’s have a closer look to see if creditors can expect any value when the holdings are liquidated ⬇️

1/5 pic.twitter.com/y8zFseVjkO

— Kaiko (@KaikoData) January 20, 2023

In a series of tweets, Kaiko provided a detailed study on the liquid assets of FTX, citing that the company would not have problems in liquidating its BTC, ETH, or other stablecoins. It added that “the problem lies in some other liquid assets” including TON and APT, which comprise together of $98 million.

Previously, in December, Kaiko published a liquidity ranking model, in which the platform enlisted the top 28 tokens in descending order in terms of their liquidity, along with comparing them to their market cap. It is to be noted that, in the list, TON was placed in the last position, with the mark cap rank as 21.

Significantly, Kaiko shared the performance of XRP, DOGE, MATIC, and SOL:

XRP, DOGE, and MATIC performed well in our liquidity ranking so no issue with their classification as liquid assets…FTX’s SOL holdings unlock linearly until 2027/2028, so their locked tokens would likely have to be sold OTC at a significant discount.

To summarize the overall content, Kaiko shared a concluding tweet in which it stated that if FTX’s classification of liquid assets is reliable, the creditors could expect “the original headline” of $5 billion assets after liquidation.

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