Daily Management Review

FTX owes over $3B to major creditors


In its bankruptcy filing, the cryptocurrency exchange FTX revealed that it owes over $3 billion to its 50 largest creditors, including around $1.5 billion to its 10 largest creditors. According to FTX lawyers, over a million consumers may have claims against the exchange.

The collapsed cryptocurrency exchange FTX owes its 50 largest creditors $3.1 billion, according to court documents cited by Reuters.

They claim that the exchange owes around $ 1.45 billion to its top ten creditors. Identities of the creditors mentioned in the court's cryptocurrency exchange statement are not provided.

The company's attorneys recently stated in a paper submitted to the Delaware bankruptcy court that FTX may have more than a million creditors in total.

The bankruptcy case reportedly has more than 100,000 creditors, but "in truth" there may be ten times that amount. Traders requesting payment are considered "unsecured creditors" in such circumstances, according to CNBC.

source: cnbc.com