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Alameda owes FTX customers $11.3 billion in June 2022

Peter Easton, an accounting professor at Notre Dame University, appeared in court to explain the severity of Alameda Research's alleged misuse of FTX client and investor funds. Based on Easton's testimony and a large number of process diagrams, between January 4, 2022 and February 11, 2022, $1.1 billion of FTX client deposits flowed to Alameda Research, with most of it being used for political donations, real estate investments, venture capital, and charitable donations. In June 2022, Alameda's debt to FTX clients reached $11.3 billion, while Alameda and FTX's bank accounts had about $2.3 billion. This means that if every client chooses to withdraw their funds, the shortfall that Alameda and FTX cannot make up will reach $9 billion.

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