Here is How Much FTX Owes it’s Biggest Creditors
The collapsed crypto exchange FTX owes more than $3 billion to its 50 largest creditors, but no names have been disclosed yet.
The total amount reportedly stands at around $3.1 billion. The debt to the ten largest creditors totals around $1.45 billion, with the largest amount to a single creditor being $225 million.
The filing states that the list of creditors, approximating the 50 largest unsecured claims, must be presented in a Chapter 11 or Chapter 9 proceeding. It also emphasizes that the amounts listed are subject to further investigation.
The application further states:
“The list of the 50 largest unsecured claims is based on currently available information about the Debtors’ creditors, including customer information that could have been reviewed but is not otherwise currently available.
The Debtors are continuing to investigate the amounts listed, including payments that may have been made but not yet reflected in their books and records.”
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FTX filed for Chapter 11 bankruptcy about two weeks ago, indicating that it has assets and liabilities worth between $10 billion and $50 billion, and the number of creditors is more than 100,000.
A Financial Times report stated that on the eve of the bankruptcy, the collapsed crypto exchange had only $900 million in liquid assets and liabilities totaled $8.9 billion.
The filing previously stated that the company could have a total of over a million creditors.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
