Crypto

Cryptocurrencies: Bankrupt FTX Platform Owes $3.1 Billion to Its Top 50 Creditors

The amounts owed by these creditors range from $21 million to $226 million, according to the court document.

Bankrupt cryptocurrency exchange FTX owes about $3.1 billion to its top 50 creditors, according to a court document seen by AFP on Sunday. The amounts owed to these unnamed creditors range from $21 million to $226 million.

Founded in 2019 by Sam Bankman-Freed, FTX quickly became one of the largest platforms in the industry and was considered one of the most trusted. But it collapsed in early November, days after rumors of its fragile financial condition. FTX did not promptly respond to customer withdrawal requests.

The group filed for bankruptcy on November 11, along with the resignation of its boss. His successor, John Ray III, said on Saturday that he had begun a strategic review of the group’s assets and its many subsidiaries to decide what to sell or reorganize.

In a file filed in Delaware Bankruptcy Court, he indicates that the top 50 creditor list and amounts owed may change according to the information he can recover.

SEE ALSO – Investments: the end of cryptocurrencies?

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