Collapsed cryptocurrency exchange FTX Trading Ltd. and its affiliates owe their 50 largest creditors about US$3.1 billion, according to Forkast’s calculation based on the estimates listed in a bankruptcy filing FTX submitted on Saturday. The creditors were not named.
See related article: Who is exposed to FTX? A running compilation on a rapidly moving target
Fast facts
- The document, filed to the U.S. Bankruptcy Court for the District of Delaware, showed that the top three creditors are owed well more than half a billion dollars, with the largest at US$226.3 million in unsecured claims, followed by US$203.3 million for the second and US$174.3 million for the third.
- FTX said in the filing that the top 50 list was put together based on the exchange’s currently available creditor information, including “customer information that was able to be viewed but is not otherwise accessible at this time.”
- “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,” FTX wrote in the filing, adding that the list may be updated if addition information becomes available.
- Last week, FTX said in a bankruptcy filing that it has more than 100,000 creditors and that figure could exceed one million.
- On Nov. 11, FTX filed for Chapter 11 bankruptcy in the U.S., sending shockwaves through the industry as what was once the world’s second largest crypto exchange valued at more than US$30 billion, imploded in little more than a week.
See related article: Man Group plans crypto hedge fund despite FTX, market turmoil: report