According to data submitted to the U.S. court, the bankrupt cryptocurrency exchange FTX is said to have owed nearly $3.1 billion to 50 top creditors.
Bloomberg News reported on the 20th (local time), citing a list of creditors submitted to the Bankruptcy Court in Delaware by FTX, a cryptocurrency exchange that applied for bankruptcy protection due to a liquidity crisis. FTX debt owed to the top 50 unsecured creditors amounted to $3.1 billion.
FTX’s debt to the No. 1 creditor was $226 million (303.5 billion won), and its debt to the top 10 reached $1.45 billion (1.9 trillion won). FTX did not disclose the names of its creditors in a court filing.
Bloomberg reported that the top 50 creditors were individual or institutional customers who were involved in the FTX insolvency crisis.
FTX presented the number of creditors as 100,000 when it filed for bankruptcy protection on the 11th, but three days later, FTX lawyers reported to the court that the number of creditors could exceed 1 million.
FTX, which is grasping the debt status, is also preparing to sell or reorganize some businesses through global asset evaluation.
John J. Ray III, a restructuring expert who served as FTX’s new CEO, said in a statement the previous day, “After reviewing it over the past week, it is fortunate to know that several subsidiaries inside and outside the U.S. have payment capabilities and valuable franchises on their balance sheets.”
Citing the Center for Responsible Politics (CRP), the Wall Street Journal reported that FTX executives, including founder Sam Bankman-Frid, have donated more than $72.1 million (about 96.8 billion won) to various elections over the past 18 months.
FTX’s political funding accounts for most of the $73 million in political donations in the entire virtual asset industry during the same period. Thanks to FTX, the virtual currency industry has become a “big hand” in donating more campaign funds than the defense industry and the automobile industry combined.