FTX, The embattled cryptocurrency exchange which recently filed for bankruptcy court protection, now says it owes its 50 biggest creditors almost $3.1 billion.
In a court filing earlier this week, the exchange admitted that it owes about $1.45 billion to its top ten unidentified creditors.
In one of the highest-profile crypto blowups, Reuters news agency reports, FTX and its affiliates filed for bankruptcy in Delaware, U.S, in November 2021 “leaving an estimated 1 million customers and other investors facing total losses in the billions of dollars.”
The company said on Saturday that “it has launched a strategic review of its global assets and is preparing for the sale or reorganization of some businesses.”
FTX’s rapid collapse, financial experts argue, marked a stunning downfall for one of the biggest and most powerful players in the crypto industry.
In addition, FTX Group said that: “there could be more than 1 million creditors in the US cases that are already filed, adding that it has been in touch with “dozens” of US and international regulatory agencies including the US Attorney’s Office, the US Securities and Exchange Commission and the Commodity Futures Trading Commission.”
The Royal Bahamas Police Force in Bahamas — where FTX is based — is investigating “whether any criminal misconduct occurred related to the company’s implosion.”
According to a statement released by the authorities last week, the police “have also taken control of cryptocurrency assets held by FTX Digital Markets, The Bahamas-based FTX unit that filed for Chapter 15 bankruptcy protection Tuesday.”
