FTX, the cryptocurrency exchange founded by Democrat super donor Sam Bankman-Fried that recently filed for bankruptcy, reportedly owed $3.1 billion to its 50 largest creditors.
last week, according to a court filing. The exchange said in a recent court filing that it owed $1.45 billion to its top 10 debtors, with its largest creditor owed $226 million.According to FTX and its affiliates’ recent bankruptcy filing, one million creditors are left in the dark about how much money they’re owed because of alleged poor record-keeping. At least 101 companies around the world are part of the bankruptcy proceedings, the company said Saturday.
Concerns over FTX’s solvency sparked a surge in withdrawals, exposing that it did not have billions of dollars worth of assets as it claimed, striking a huge blow to the world’s second-largest exchange.on some of the craziest revelations from the FTX bankruptcy filing. One interesting fact is that the company bought homes and “personal items” for executives.
Bankman-Fried was living in a penthouse located in a luxury resort in the Bahamas, where FTX was also based. There, corporate FTX funds “were used to purchase homes and other personal items for employees and advisors,” according to bankruptcy filings. Ray also noted that there is no documentation for transactions and loans regarding these real estate purchases, and that they were recorded in the personal name of employees and advisors.
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