'Balances of customer crypto assets deposited are not presented'

I- THE PREPETITION DEBTORS

C. The Ventures Silo

27. The Debtors in the Ventures Silo make and manage private investments. The investments are held in Debtors Clifton Bay Investments, LLC, Clifton Bay Investments Ltd., FTX Ventures Ltd., Island Bay Ventures Inc. and, potentially, affiliated companies.

28. To my knowledge, Debtors Clifton Bay Investments, LLC and FTX Ventures Ltd. prepared financial statements on a quarterly basis. The September 30, 2022 balance sheet for Debtor Clifton Bay Investments LLC shows assets with a total value of $1.52 billion as of its date, and the September 30, 2022 balance sheet for FTX Ventures Ltd. shows assets with a total value of $493 million as of its date. To my knowledge, none of these financial statements have been audited. Because these balance sheets were unaudited and produced while the Debtors were controlled by Mr. Bankman-Fried, I do not have confidence in them, and the information therein may not be correct as of the date stated.

29. I have not been able to locate financial statements for Island Bay Ventures Inc.

30. The chart below summarizes certain information regarding the Ventures Silo’s assets as reflected in the September 30, 2022 balance sheets, excluding any assets held by Island Bay Ventures Inc.

(1) Amounts shown in thousands of U.S. Dollars.
(2) In the above table, intercompany accounts receivable, accounts payable, loans payable, and loans
receivable are not presented.

31. The chart below summarizes certain information regarding the Ventures Silo’s liabilities as reflected in the September 30, 2022 balance sheets excluding any liabilities of Island Bay Ventures Inc.:

(1) Amounts shown in thousands of U.S. Dollars.
(2) In the above table, intercompany accounts receivable, accounts payable, loans payable, and loans
receivable are not presented.
(3) Related Party Accounts Payable at Clifton Bay Investments LLC consists of four related-party balances:
one with Debtor Alameda Research Ltd, of $1,400 million; one with Debtor Alameda Research LLC, of
$68.6 million; one with Alameda Ventures Ltd, of $38.5 million; and one with Debtor West Realm Shires
Services Inc. of $2.25 million. 
(4) Customer custodial fund liabilities are comprised of fiat customer deposit balances. Balances of customer
crypto assets deposited are not presented.

32. All Debtors in the Ventures Silo are organized in the State of Delaware or the British Virgin Islands.