FTX + SBF Chapter 11 (Bankruptcy) Court Filing by John J. Ray III, Nov 17, 2022 is part of . You can jump to any part  in this filing . This is Part 2 of 20. HackerNoon’s Legal PDF Series here I- THE PREPETITION DEBTORS A. Corporate Organization and Identification of Four Silos 9. For purposes of managing the Debtors’ affairs, I have identified four groups of businesses, which I refer to as “Silos.” These Silos include: (a) a group composed of Debtor West Realm Shires Inc. and its Debtor and non-Debtor subsidiaries ( ), which includes the businesses known as “ ,” “ ,” “ ,” “ ,” and “ ,” among other businesses; the “WRS Silo” FTX US LedgerX FTX US Derivatives FTX US Capital Markets Embed Clearing (b) a group composed of Debtor and its Debtor subsidiaries ( ); Alameda Research LLC the “Alameda Silo” (c) a group composed of Debtor Clifton Bay Investments LLC, Debtor Clifton Bay Investments Ltd., Debtor Island Bay Ventures Inc. and Debtor . ( ); and FTX Ventures Ltd the “Ventures Silo” (d) a group composed of Debtor FTX Trading Ltd. and its Debtor and non-Debtor subsidiaries ( ), including the exchanges doing business as “ ” and similar exchanges in non-U.S. jurisdictions. the “Dotcom Silo” FTX.com These Silos together are referred to by me as the “ .” FTX Group 10. Each of the Silos was controlled by (* Minority equity interests in the Silos were held by and , the co-founders of the business along with Mr. Bankman-Fried. The WRS Silo and Dotcom Silo also have third party equity investors, including investment funds, endowments, sovereign wealth funds and families. To my knowledge, no single investor other than the co-founders owns more than 2% of the equity of any Silo. **) Mr. Bankman-Fried ). Zixiao “Gary” Wang Nishad Singh ( 11. The diagram attached as provides a visual summary of the Silos and the indicative assets in each Silo. contains a preliminary corporate structure chart. These materials were prepared at my direction based on information available at this time and are subject to revision as our investigation into the affairs of the FTX Group continues. Exhibit A Exhibit B (*) To my knowledge, Mr. Bankman-Fried owns (a) directly, approximately 53% of the equity in Debtor West Realm Shires Inc.; (b) indirectly, approximately 75% of the equity in Debtor FTX Trading Ltd.; (c) directly, approximately 90% of the equity in Debtor Alameda Research LLC; and (d) directly, approximately 67% of the equity in Clifton Bay Investments LLC. (**) Based on the information provided to me, the only Debtors that have received third party equity investments are Debtor FTX Trading Ltd. (Dotcom Silo) and Debtor West Realm Shires Inc. (WRS Silo). To my knowledge, (a) approximately 25% of the equity in Debtor FTX Trading Ltd. is owned by a dispersed group of approximately 600 third party equity investors and (b) approximately 22.25% of the equity in Debtor West Realm Shires Inc. is owned by a dispersed group of approximately 570 third party equity investors. FTX Trading Ltd also acquired 51% of Blockfolio, Inc. in 2020, with the remaining 49% of Blockfolio, Inc. owned by the original shareholders. Continue Reading Here

'I do not have confidence in it', says John Ray re/ FTX US Financials

'Never in my career have I seen such a complete failure of corporate controls', says John J Ray III

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'Each of the Silos was controlled by Mr. Bankman-Fried'

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