Crypto Exchange FTX Owes More Than $3B to Creditors
Cryptocurrency exchange FTX faced financial problems earlier this month. After that, Sam Bankman-Fried announced his resignation as CEO of the company and launched its bankruptcy proceedings in the state of Delaware.
The application filed as part of this process shows FTX owed almost $3.1 billion to the top 50 creditors.
FTX owed about $1.45 billion to ten investors. FTX owed $226M to one of the creditors. The other two largest creditors had invested $203 million each in the company.
The company filed for bankruptcy on November 11, after which digital currencies collapsed to a two-year low.
Binance CEO Changpeng Zhao has said that as a result of the turbulence caused by the FTX bankruptcy, the crypto market could plunge into a prolonged bearish phase.
