Ripple Labs Has Claim Against FTX—Here’s How Much
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December 24, 2023 12:55 pm
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Recently surfaced documents have detailed a financial claim Ripple Labs has against FTX.
The documents list Ripple Labs as a creditor to the now-defunct FTX and list a claim for $11.4 million against the bankrupt cryptocurrency and digital asset exchange.
According to sources, Ripple has a strong asset-to-debt ratio and is not exactly aching for the funds, which represent a paltry sum to the multi-billion company based in Singapore.
To date, stewards for the FTX bankruptcy and restructuring plan have recovered roughly $7 billion in assets.
Wrath of Kahneman presented the financial documents and stated: “Ripple has a claim on FTX assets. What’s interesting is Ripple Singapore is making the claim against Alameda assets.
FTX: Bahamas, Alameda: HK, and Ripple: Singapore. Does this suggest how wallets are operated? Shows the damage Gensler has done.
Also, Shaq.”
#Ripple has a claim on FTX assets. What's interesting is Ripple Singapore is making the claim (against Alameda assets.) FTX: Bahamas, Alameda:HK, and Ripple:Singapore. Does this suggest how wallets are operated? Shows the damage Gensler has done.
Also, Shaq 😅 pic.twitter.com/zLYFSWeXCc— WrathofKahneman (@WKahneman) December 23, 2023
Bitcoin Systemi explained:
Some experts claim that FTX’s cryptocurrency assets are much greater than its liabilities, and therefore the exchange may actually be operational again. Although there are efforts to restart the exchange under the name FTX 2.0, there is no clear timetable for this to happen yet.
🟡🟡🟡 Just to recap on the below $10m request to FTX from Ripple singapore that is owed by FTX. @bgarlinghouse explained @ Davos 2023 about the XRP loaning how they charge interest and how its a process given to Market Makers to build liquidity and the alleged fraud by FTX https://t.co/Wj9MEMcY9O pic.twitter.com/JlXxZlYZMw
— ĐΛRKHØRSΞ™ (@DarkhorseDNME4) December 24, 2023
Ripple Labs' revealed $11.4M FTX asset claim in bankruptcy documents sheds light on the financial intricacies within the company. https://t.co/ZkvkHe0mvZ
— Megan Morgan (@colonutjeez) December 24, 2023
U Today added:
Last week, FTT, the core native token of the collapsed exchange FTX, jumped by over 26% in no time on the announcement of consolidation between the FTX main legal entity and its Bahamas firm.
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