Bankrupt cryptocurrency exchange FTX owes nearly $3.1 billion...

Bankrupt cryptocurrency exchange FTX owes nearly $3.1 billion to top 50 creditors

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

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

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FTX and its affiliates filed for bankruptcy in Delaware on November 11 in one of the highest-profile crypto blowups,

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leaving an estimated 1 million customers and other investors facing total losses in the billions of dollars.

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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.

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On November 11, the crypto exchange FTX announced that it has filed for Chapter 11 bankruptcy in the US, as its Founder and CEO Sam Bankman-Fried resigned from his role.

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Sam Bankman-Fried (SBF) founded FTX in 2019 and served as CEO ever since.

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John J Ray III has been appointed the new CEO and nearly 130 additional affiliated companies — including FTX US and Alameda Research — have also begun the bankruptcy process, the company said in a statement.

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Ray III is a Chicago-based lawyer who has served as the restructuring officer in several high-profile bankruptcy cases.

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