Skip to main content
The Markets by Proactive
Go to Proactive UK
Proactive UK has moved. Proactive’s coverage of London’s small caps continues on proactiveinvestors.com Go there →
Advertisement
The Markets
by Proactive
Proactive UK has moved.
Coverage of London’s small caps continues on proactiveinvestors.com
Go to Proactive UK
The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK
Advertisement
The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK

Blockchain & Crypto

FTX owes more than US$3bn to its creditors

Prior to its collapse, FTX was the second largest crypto exchange behind Binance

Collapsed cryptocurrency exchange FTX owes nearly US$3.1bn to its 50 biggest creditors, according to a filing in a US bankruptcy court.

FTX, which filed for bankruptcy after being unable to meet customer withdrawals, owes almost US$1.45bn to its top 10 creditors alone.

It was nearly 10 days ago that the crypto exchange filed for bankruptcy, leaving its some 1mln creditors in the lurch, although the extent of the damage is unknown due to alleged poor record-keeping practices.

Prior to its collapse, FTX was the second-largest crypto exchange behind Binance.

However, concerns over its solvency sparked a spike in withdrawals it was not able to meet, which exposed that it did not have assets worth the billions of dollars it claimed.

FTX also warned that cryptocurrency stolen in the final stages of its collapse was being transferred and has called on other exchanges to aid in returning the assets so it can repay its creditors.

According to analysts, almost US$270mln worth of crypto was stolen.

Advertisement
The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK