Bankrupt Crypto Exchange FTX Owes $3,101,348,515 to 50 Largest Creditors

The collapsed crypto exchange FTX owes more than $3.1 billion to its 50 largest creditors, according to a new bankruptcy filing.

The new filing indicates the exchange’s largest creditor is owed more than $226 million, and the top 10 are owed approximately $1.45 billion collectively.

The names of the creditors are not listed on the document.

FTX’s legal team says the firm is still working out the final figures.

“The Debtors’ investigation continues regarding amounts listed, including payments that may have been made but are not yet reflected on the Debtors’ books and records. The Debtors are also working to obtain full access to customer data.”

FTX filed for bankruptcy earlier this month amid accusations that the exchange’s CEO, Sam Bankman-Fried, mismanaged the firm’s funds by loaning out billions of dollars worth of customer deposits to Alameda Research, the firm’s trading branch.

John J. Ray III replaced Bankman-Fried as CEO after the former chief executive’s resignation on November 11th. In recent bankruptcy filings, Ray says the exchange suffered from compromised systems, faulty regulatory oversight and leadership that was made up of “potentially compromised individuals.”

The U.S. House of Representatives Financial Services Committee also reportedly plans to hold a December hearing to investigate FTX’s sudden collapse.

 

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