Bankrupt exchange FTX owes top creditors over $3 billion
The failed cryptocurrency exchange FTX owes more than $3 billion to its largest creditors, the company disclosed in a court filing over the weekend
NEW YORK (AP) — The failed cryptocurrency exchange FTX owes more than $3 billion to its largest creditors, the company disclosed in a court filing over the weekend.
The list of the top 50 unsecured claims against FTX gives the public a first glance into the amount of money Sam Bankman-Fried's companies may owe his customers. The top claim was more than $226 million.
The names, addresses and other information about the claims was redacted by the court.
Bahamas-based FTX filed for bankruptcy on Nov. 11 after the exchange acknowledged that it had used customer funds to cover bad bets by Bankman-Fried's trading arm, Alameda Research. Since it went into bankruptcy, the lawyers tasked with sorting through the aftermath have described in court filings a company that little risk controls and would use company funds to pay for personal purchases of its employees.
