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As FTX Trading Ltd. filed for Chapter 11 bankruptcy in the United States on Friday, investors were still reviewing the company’s private financial documents.

Those reviews follow a hectic week of discussions between company founder — and now former CEO — Sam Bankman-Fried and potential investors in an effort to save the cryptocurrency trading business.

“FTX is raising approximately $6-10 billion in liquidity this week. We are very open to structures here and can be flexible,” reads one of the documents in an online data room.

FTX’s Chapter 11 filing states that approximately 130 affiliated companies have initiated voluntary proceedings. But the crisis has trapped many others outside its immediate circle, such as lender BlockFi, a troubled digital asset lender that was once worth $3 billion but now has limited activity on its platform. The firm suspended client withdrawals late Thursday, citing “a lack of clarity” about the state of FTX US, as well as the uncertainty plaguing and sister trading firm Alameda Research.

According to several sources who have been in direct contact with Bankman-Fried over the past 24 hours, a look inside the financial picture of FTX has left them surprised, considering that last year the once high-profile cryptocurrency trading platform level, it was valued at $25 billion.

“This data room was pulled together quickly,” said a source who engaged with FTX last day. “There have been some huge demands on Sam. He is under extreme stress.

Some of these can be seen in the documents, which were obtained by BNN Bloomberg through multiple sources.

“These are approximate numbers and may be slightly off,” read a statement, regarding the company’s financial statements. “Of course there’s also the possibility of typos, etc.” Continued Microsoft Excel spreadsheet created by Bankman-Fried.

The Excel document also includes another mea culpa from Bankman-Fried following a detailed breakdown of FTX’s financial assets and cryptocurrency holdings showing the company has nearly $9 billion in liabilities and approximately $900 million in assets. liquid on the balance sheet.

“There were many things I wish I had done differently than I did, but the biggest ones are these two things: the poorly labeled (sic) internal bank account and the size of customer withdrawals during a bank run, “According to the document.

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