30页法律文件披露FTX破产内情，清算人怒斥离谱和混乱

PanewsPublished on 2022-11-19Last updated on 2022-11-19

Abstract

新任CEO John Ray III在向美国联邦破产法院提交的长达30页的法律文件中究竟披露出FTX哪些不为人知的秘辛？FTX又有哪些管理不善及滥用资金之举？

尽管从业40余年，但FTX的内部真实情况仍让这位身经百战的新任CEO John Ray III大为吃惊，“我职业生涯中从未见过如此彻底失败的公司控制，以及如此完全缺乏可信度的财务信息。不仅系统完整性受损、国外监管存在缺陷，且控制权还集中在极少数缺乏经验、不成熟且可能受到损害的个人手中，这种情况是前所未有的。”

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John Ray III是位经验非常丰富的重组律师，处理过包括安然在内的诸多破产案的企业重组业务。和他一起参与FTX破产重组的还有重组咨询公司之一Alvarez和Marsal及重组律师事务所之一Sullivan和Cromwell等。

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那么，John Ray III在向美国联邦破产法院提交的这份长达30页的法律文件中究竟披露出FTX哪些不为人知的秘辛？FTX又有哪些管理不善及滥用资金之举？

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1、 财务报表不可信，用户资产未被纳入FTX资产负债

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按照不同的业务，文件将FTX集团按照不同的业务分为WRS Silo、Alameda Silo、Ventures Silo和Doctom Silo这4种业务组，并公布了截至9月30日的资产负债表。其中，FTX US的资产负债表显示，截至9月30日的资产为13.6亿美元。但Ray也指出，此表并没有长期债务，按理来讲用户存款会作为很大一笔的FTX债务(因为FTX托管用户资产)，但用户资产其实并没有被计入资产负债。

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该文件也指出，FTX集团大部分财务报表是未经过审计的，且没有会计部门，其中FTX US与知名审计公司Armanino LLP合作，而FTX.com则是依靠名为Prager Metis会计师事务所，而这是家声称首家在元字宙平台Decentraland开设会计总部的公司，并没有实体。同时，Ray认为该资产负债表是由SBF掌管公司时制作，这些数据无法被信任，顾问们正努力自下而上地为FTX实体重建资产负债表。

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2、仅有13亿美元资产，破产后增发FTT

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在资金管理上，由于此前FTX并没有集中控制公司的现金，也没有备案准确的银行账户和账户签字人名单，也没有对合作银行足够的重视。混乱现金管理也导致无法清楚的掌握FTX集团在申请破产保护时持有的金额究竟有多少？而据目前Ray与会计师事务所Alvarez & Marsal查核，到目前为止已经找到了归属于FTX各实体的大约5.6亿美元。同时，他们还在离线冷钱包中找到了约7.4亿美元的加密货币。也就是说，在负债百亿美元的情况下，FTX当前仅有13亿美元资产。

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而在调查过程中，Ray还披露了FTX在破产前后的一些可疑行为，包括申请破产当天有3.72 亿美元的未授权转移交易，破产申告后有未经授权增发了大约3亿美元的FTX平台原生代币FTT，另外还有些无法确认的冷钱包资产。

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3、SBF控制集团加密资产，Alameda对高管大量借款

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FTX集团对加密资产没有进行适当记账、记录或安全控制，反而由SBF和另一联创Gary Wang控制着主要业务的加密资产访问权，甚至他们还使用集团电子邮件帐户（GROUP EMAIL ACCOUNT）来分享公司私钥和关键敏感数据，且用软件来“掩盖对客户资金的滥用”等。而Ray也指出，Alameda的（SBF持有90%股份，Gary Wang持有10%）和FTX的Dotcom Silo之间缺乏独立治理模式，且Alameda在FTX交易中有“秘密豁免”，这也意味着表明Alameda在FTX上进行高风险杠杆交易时具有绝对优势。

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此外，Alameda与FTX还存在着关联交易，文件披露称Alameda向FTX高管和关联公司发放了41亿美元贷款，其中SBF获得了10亿美元，FTX工程总监Nishad Singh获得了5.43亿美元，FTX Digital Markets负责人Ryan Salame获得了5500万美元，FTX的法律子公司Euclid Way Ltd.和Paper Bird Inc.也获得了23亿美元贷款。

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4、公司资金被挪用给员工买房，主管回复表情来审批支出申请

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在资产支出上，FTX集团的管理也非常松散，员工是通过一个线上聊天平台提交支出申请，并由不同的主管通过个性化的表情包回复批准。在此过程中，调查团也发现了FTX的公司资金被用于为员工和顾问购买住房及其他个人物品，且一些房地产被记录在FTX员工和顾问的个人名义下，但却没有任何债务记录。

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另外，《华盛顿邮报》根据对相关游说披露、联邦记录和其他来源的审查发现，自 2021 年 10 月以来，SBF 和 Gabe 兄弟俩及其关系网络在研究项目、竞选捐款上花费了至少7000 万美元，旨在改善生物安全和预防下一次大流行的举措。还发现，在 FTX 崩溃前的几个月里，SBF 家族及其关系网络迅速增加了在大流行病预防计划上的支出，包括1200万美元支持加强公共卫生计划的加州投票倡议、投资超过1100万美元用于国会初选一位俄勒冈生物安全专家等。

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不仅如此，为了隐藏所有的决定和与员工的沟通，SBF还鼓励经常使用“阅后即焚”软件并鼓励员工也这么做，而这也使得集团所有的制定决策的会议记录无法被获得，且部分雇员身份无法被确认。

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此外，除了资金管理的混乱，FTX集团还缺乏员工管理能力，不仅缺少雇员身份信息和条款，且还将旗下不同子公司的职工和外部承包商的派遣员工混一起统计。“迄今为止，多次尝试定位某些假定员工以确认身份的努力均未成功。”

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5、SBF目前与FTX已无雇佣关系，不能代表官方发言

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法庭文件指控巴哈马政府在该公司申请破产后，未经授权访问FTX系统以提取资产，并称SBF和Gary Wang被巴哈马监管机构指示进行“特定的申请后的资金转移”，并且此类资产在“由巴哈马政府控制的 FireBlocks 上保管”。对此，巴哈马证券委员会承认称其根据巴哈马最高法院的命令行使其作为监管机构的权力，采取行动指示将FTX Digital Markets Ltd.的所有数字资产转移到由委员会控制的数字钱包中，这是为了保护其管辖范围内的客户和债权人的利益。

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而Ray在文件最后也强调，SBF已不受FTX集团雇用，无法代表公司发言。同时，他并不清楚目前身在巴哈马的SBF的人脉关系和资产，他仍在社交媒体继续发表不稳定和具有误导性的公开声明。

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值得一提的是，在FTX破产调查过程中，SBF不再聘用律师事务所Paul, Weiss, Rifkind, Wharton & Garrison的法律顾问代表，而是请了斯坦福大学法学院的刑法和白领犯罪教授 David Mills，这位律师是SBF父亲Joseph Bankman的同事。

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总的来看，Ray的这份初步调查已经暴露FTX集团不仅是个SBF及其高层运营的“加密作坊”，还存在着挪用用户资金等欺诈行为，此外集团对现金管理、员工雇佣、资产保管等方面都缺失管理意识。

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