# Collapsed FTX owes nearly $3.1 billion to top 50 creditors
Published: 2022-11-21
Category: Headlines
Category URL: https://bizdispatch.com/category/headlines/
Meta Title: FTX Cryptocurrency Exchange Files for Bankruptcy with $3.1 B
Meta Description: FTX, a major crypto exchange, filed for bankruptcy, owing $3.1 billion to its top creditors. A strategic review is underway for its global assets.
URL: https://bizdispatch.com/collapsed-ftx-owes-nearly-3-1-billion-to-top-50-creditors/

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(Reuters) -Cryptocurrency exchange FTX, which has filed for U.S. bankruptcy court protection, said it owes its 50 biggest creditors nearly $3.1 billion.

The exchange owes about $1.45 billion to its top ten creditors, it said in a court filing on Saturday, without naming them.

FTX and its affiliates filed for bankruptcy in Delaware on Nov. 11 in one of the highest-profile crypto blowups, leaving an estimated 1 million customers and other investors facing total losses in the billions of dollars.

The crypto exchange said on Saturday it has launched a strategic review of its global assets and is preparing for the sale or reorganization of some businesses. A hearing on FTX’s so-called first-day motions is set for Tuesday morning before a U.S. bankruptcy judge, according to a separate court filing.

(Reporting by Juby Babu in Bengaluru and Mike Spector in New York; Editing by Angus MacSwan and Daniel Wallis)


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