FTX Owns More Than $3 Billion To The Top 50 Creditors

FTX Lawyer Claims Substantial Assets Stolen or Missing During Hearing
  • According to records, FTX owes 3 billion to the top 50 creditors.
  • The information given by the creditors is unclear, as are their locations.

Crypto Exchange FTX has filed for bankruptcy in the United States, and CEO SamBankman-Fried has stepped down, following a liquidation issue at the cryptocurrency group that sparked action from regulators around the world. According to the records filed with the Delaware bankruptcy court, the exchange owes 3.1 billion to its top 50 creditors.

Detailed Information On FTX Creditors

According to the records, the FTX holds $100 million in each of the top ten creditors alone, totaling about 1.45 billion. And it shared sums ranging from $21 million to $203 million with others. The identity of the creditors is unclear, as are their whereabouts.

Based on the filings, the Top 50 List is based on the Debtors’ currently available creditor information, which includes customer information that was previously visible but is no longer available. The Debtors’ inquiry into the amounts listed is ongoing, including payments that may have been made but have not yet been recorded on the Debtors’ books and records. The Debtors also hope to acquire full access to client data.

Following the collapse, the new CEO, John J.Ray III, was hired to handle the processes. He stated that prompt Chapter 11 relief will allow the FTX group to overcome and devise a method to optimize recoveries for stakeholders. And the FTX group has valuable assets that can only be managed successfully through an organized, collaborative procedure. FTX has over 1 million credits, according to the filing.

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