Bankrupt cryptocurrency exchange FTX owes nearly $3.1 billion to top 50 creditors
Cryptocurrency exchange FTX, which has filed for U.S. bankruptcy court protection, said it owes its 50 biggest creditors nearly $3.1 billion.
The exchange owes about $1.45 billion to its top ten creditors, it said in a court filing on Saturday, without naming them.
FTX and its affiliates filed for bankruptcy in Delaware on November 11 in one of the highest-profile crypto blowups,
leaving an estimated 1 million customers and other investors facing total losses in the billions of dollars.
The crypto exchange said on Saturday it has launched a strategic review of its global assets and is preparing for the sale or reorganization of some businesses.
On November 11, the crypto exchange FTX announced that it has filed for Chapter 11 bankruptcy in the US, as its Founder and CEO Sam Bankman-Fried resigned from his role.
Sam Bankman-Fried (SBF) founded FTX in 2019 and served as CEO ever since.
John J Ray III has been appointed the new CEO and nearly 130 additional affiliated companies — including FTX US and Alameda Research — have also begun the bankruptcy process, the company said in a statement.
Ray III is a Chicago-based lawyer who has served as the restructuring officer in several high-profile bankruptcy cases.