Collapsed FTX Owes Nearly $3.1 Billion to Top 50 Creditors

By Reuters
November 21, 2022Businessshare
Collapsed FTX Owes Nearly $3.1 Billion to Top 50 Creditors
The logo of FTX at the entrance of the FTX Arena in Miami on Nov. 12, 2022. (Marco Bello/Reuters)

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.