FTX doesn’t know exactly how much cash it has and still hasn’t produced a complete list of employees, according to a 30-page affidavit from FTX Group CEO John J. Ray on Thursday morning.  But Ray has been able to estimate that the now-bankrupt FTX Group, which includes FTX.com, trading desk Alameda Research, and FTX US, has roughly $564 million worth of cash. 

He and his newly appointed directors are now undergoing a process to locate all of FTX’s bank accounts, asking the funds to be frozen, and telling institutions “not to accept instructions from Mr. Bankman-Fried or other signatories.” Meanwhile, Ray says FTX has “secured only a fraction of the digital assets” it believes the FTX Group companies own. 

So far that amounts to $740 million now being held in cold storage wallets, which FTX “believe is attributable” to West Realm Shires, Alameda, or FTX.com. Ray notes $372 million in unauthorized transfers that occurred the same day FTX filed for bankruptcy and the minting of $300 million worth of FTX Tokens (FTT) after the filing.