FTX, the bankrupt cryptocurrency exchange, has revealed that it now holds assets worth billions of dollars more than what its creditors originally claimed. According to a disclosure statement filed recently, FTX’s bankruptcy estate estimates that it will have between $14.5 billion and $16.3 billion in net distributable proceeds when its reorganization plan begins on September 30th.

Interestingly, FTX only owes its creditors approximately $11.2 billion, which means that the creditors could potentially recover between 118% and 142% of their claimed values. However, it is important to note that the digital asset claims made by FTX’s creditors are valued in dollars and were based on the low cryptocurrency prices at the time of the exchange’s collapse in November 2022. This was a period of turmoil for FTX, which led to a significant drop in crypto prices across the sector.

To provide some context, Bitcoin (BTC) was trading at around $16,600 on November 14th, 2022, compared to its current price of $61,435. Similarly, Ethereum (ETH) was trading at approximately $1,250, while it is currently valued at $2,969.

The increased dollar payouts for FTX’s creditors are a result of the surging cryptocurrency prices this year, as well as the exchange’s sale of a stake in Anthropic, an artificial intelligence (AI) safety and research company.

FTX’s founder, Sam Bankman-Fried, was found guilty last year of defrauding investors and mishandling billions of dollars in customer funds, which ultimately led to the downfall of the exchange. He was sentenced to 25 years in prison and ordered to pay $11 billion in forfeiture. However, Bankman-Fried is currently appealing his conviction and sentence.

It is important to note that the opinions expressed in this article are not investment advice. Investors should conduct their own research before making any high-risk investments in cryptocurrencies or digital assets. Transfers and trades are done at one’s own risk, and any losses incurred are the responsibility of the individual. The Daily Hodl does not endorse the buying or selling of cryptocurrencies or digital assets, nor does it provide investment advice.