{"id":70829,"date":"2022-11-20T20:14:43","date_gmt":"2022-11-20T20:14:43","guid":{"rendered":"https:\/\/tahrir2day.com\/news\/2022\/11\/20\/ftx-crypto-exchange-owes-biggest-creditors-3-1bn\/"},"modified":"2022-11-20T20:14:43","modified_gmt":"2022-11-20T20:14:43","slug":"ftx-crypto-exchange-owes-biggest-creditors-3-1bn","status":"publish","type":"post","link":"https:\/\/tahrir2day.com\/news\/2022\/11\/20\/ftx-crypto-exchange-owes-biggest-creditors-3-1bn\/","title":{"rendered":"FTX crypto exchange owes biggest creditors $3.1bn"},"content":{"rendered":"
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According to a court filing, cryptocurrency exchange FTX owes its top 50 creditors nearly $3.1 billion (\u00a32.6 billion).<\/b><\/p>\n<\/div>\n

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The embattled company, which filed for bankruptcy in the US last week, says it owes about $1.45 billion to its top 10 creditors, but hasn’t named any.<\/p>\n<\/div>\n

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The collapse of the world’s second largest crypto exchange shook confidence in the already struggling cryptocurrency market.<\/p>\n<\/div>\n

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This also led to the resignation of stock exchange chief Sam Bankman-Fried.<\/p>\n<\/div>\n

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FTX’s earlier bankruptcy filings showed more than a million people and businesses could be owed money after the collapse.<\/p>\n<\/div>\n

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On Saturday, FTX announced it had launched a review of its global assets and was preparing to sell or restructure some businesses. <\/p>\n<\/div>\n

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A court hearing before a US bankruptcy judge is scheduled for Tuesday.<\/p>\n<\/div>\n

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    \n
  • The Case of “King of Cryptography” Sam Bankman-Fried<\/li>\n
  • A million money owed from failed crypto exchange<\/li>\n<\/ul>\n<\/div>\n<\/div>\n
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    It’s unclear how much people who have funds in the exchange will get back at the end of the bankruptcy proceedings, although many experts have warned it may be a small fraction of what they put into the firm.<\/p>\n<\/div>\n

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    Last week, new FTX chief John Ray slammed the way the failed crypto exchange was run, saying he had \u201cnever seen such a complete failure of corporate controls.\u201d<\/p>\n<\/div>\n

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    Mr Ray, replacing Mr Bankman-Fried, criticized a “complete lack of trustworthy financial information”.<\/p>\n<\/div>\n

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    Mr Bankman-Fried told news website Vox he regretted filing for bankruptcy and said the decision largely took financial matters away from his control. He also expressed contempt for financial regulators.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

    According to a court filing, cryptocurrency exchange FTX owes its top 50 creditors nearly $3.1 billion (\u00a32.6 billion). The embattled company, which filed for bankruptcy in the US last week, says it owes about $1.45 billion to its top 10 creditors, but hasn’t named any. The collapse of the world’s second largest crypto exchange shook […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false,"footnotes":""},"categories":[45],"tags":[],"class_list":["post-70829","post","type-post","status-publish","format-standard","hentry","category-business"],"yoast_head":"\nFTX crypto exchange owes biggest creditors $3.1bn - Tahrir News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tahrir2day.com\/news\/2022\/11\/20\/ftx-crypto-exchange-owes-biggest-creditors-3-1bn\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FTX crypto exchange owes biggest creditors $3.1bn\" \/>\n<meta property=\"og:description\" content=\"According to a court filing, cryptocurrency exchange FTX owes its top 50 creditors nearly $3.1 billion (\u00a32.6 billion). 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