Collapsed FTX owes nearly USD 3.1 bln to top 50 creditors | The Financial Express

Collapsed FTX owes nearly USD 3.1 bln to top 50 creditors

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.

Collapsed FTX owes nearly USD 3.1 bln to top 50 creditors
FTX and its affiliates filed for bankruptcy in Delaware on Nov. 11 in one of the highest-profile crypto blowups

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 Nov. 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. A hearing on FTX’s so-called first-day motions is set for Tuesday morning before a U.S. bankruptcy judge, according to a separate court filing.

Also Read: Stolen funds from FTX converted from ETH to Bitcoin

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First published on: 21-11-2022 at 10:51 IST