Collapsed FTX owes nearly $4.3 billion to top 50 creditors

The logo of FTX is seen at the entrance of the FTX Arena in Miami, Florida, US on Nov 12, 2022.
PHOTO: Reuters file

Cryptocurrency exchange FTX, which has filed for US bankruptcy court protection, said it owes its 50 biggest creditors nearly US$3.1 billion (S$4.3 billion).

The exchange owes about US$1.45 billion to its top ten creditors, it said in a court filing on Saturday (Nov 19), 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 one 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 reorganisation of some businesses.

A hearing on FTX's so-called first-day motions is set for Tuesday morning before a US bankruptcy judge, according to a separate court filing.

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