Unfortunately, not a single day goes by without bad news about the‘Bankrupt crypto exchange FTX. It was reported lately that FTX owes over $3 billion to its fifty largest creditors. While the total amount of its losses amounts to 40 billion dollars, spread over millions of investors.
3 billion for only 50 creditors
By rummaging through the filed documents by the new FTX administration in the Delaware Bankruptcy Court, Decrypt revealed that SBF’s company owes a lot of money to its top 50 creditors. The latter, whose identity is kept secret, would have actually lost 3.1 billion dollars in this affair.
Based on said documentwe can deduce that:
- FTX owes over $276 million to its largest creditor;
- the 3e largest contributor is awaiting repayment of its $174 million;
- 10 of its major creditors are worth $1.45 billion, having each injected $100 million in unsecured debt;
- the 50e creditor named in the list will be happy to review its 21 million dollars;
- etc
Genesis, 3e creditor of FTX?
A while ago, Genesis tweeted this:
” As part of our focus on transparency on things that happened this week in the market, the Genesis derivatives business currently has $175 million in funds locked in our FTX trading account. This has no impact on our market making activities. »
However, the document submitted to the legal authorities of Delaware mentions a 3e creditor to whom FTX owes $174 million.
Lately, Genesis Global has, like several cryptocurrency exchanges, halted redemptions and new loans on its platform. For this company affiliated with Digital Currency Group, the culprits are named Sam Bankman-Fried and Three Arrows Capital.
All in all, Cyclone FTX wreaked havoc in its path. This list of the biggest creditors is only the tip of the iceberg, since Tom Brady’s $600 million is not even on it.
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