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Market News Collapsed FTX owes nearly $3.1 billion to top 50 creditors

Collapsed FTX owes nearly $3.1 billion to top 50 creditors

The cryptocurrency exchange FTX claims it owes its 50 largest creditors close to $3.1 billion and has applied for bankruptcy court protection in the United States.

Jimmy Khan
2022-11-21
291

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The cryptocurrency exchange FTX claims it owes its 50 largest creditors close to $3.1 billion and has applied for bankruptcy court protection in the United States.


Without naming them, the exchange stated in a court statement on Saturday that its top ten debtors are owed almost $1.45 billion.


In one of the most publicized crypto meltdowns, FTX and its affiliates filed for bankruptcy in Delaware on November 11. As a result, an estimated million consumers and other investors are expected to have lost billions of dollars.


The cryptocurrency exchange announced on Saturday that it has started a strategic evaluation of its worldwide assets and is putting some firms up for sale or reorganization. According to a different court filing, a hearing on FTX's so-called first-day motions is scheduled for Tuesday morning before a U.S. bankruptcy judge.

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