# Collapsed FTX owes nearly $3.1 billion to top 50 creditors
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2022-11-21
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: FTX cryptocurrency exchange files for bankruptcy
Meta Description: FTX, a major crypto exchange, has filed for bankruptcy, owing nearly $3.1 billion to its top creditors. Strategic review and asset sale in progress.
URL: https://financedigest.com/collapsed-ftx-owes-nearly-3-1-billion-to-top-50-creditorshtml

![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/2022-11-20t174935z3lynxmpeiaj02lrtroptp4fintech-crypto-ftx-lawsuit-1736814844836-compressed.jpg)

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

The exchange owes about $1.45 [billion to its top](https://www.financedigest.com/spains-top-soccer-clubs-to-get-cash-boost-from-3-2-billion-la-liga-deal.html "Spain’s top soccer clubs to get cash boost from .2 billion La Liga deal") ten creditors, it said in a court filing on Saturday, without naming them.

[FTX and its affiliates filed for bankruptcy](https://www.financedigest.com/blockfi-tells-u-s-bankruptcy-court-it-is-the-antithesis-of-ftx.html "BlockFi tells U.S. bankruptcy court it is ‘the antithesis of FTX’") in Delaware on Nov. 11 in one of the highest-profile crypto blowups, leaving an estimated 1 million customers and other [investors facing](https://www.financedigest.com/wave-of-lawsuits-over-ftx-expected-but-investors-will-face-legal-hurdles.html "‘Wave’ of lawsuits over FTX expected, but investors will face legal hurdles") total losses in the billions of dollars.

The [crypto exchange](https://www.financedigest.com/exclusive-binance-moved-346-million-for-seized-crypto-exchange-bitzlato-data-show.html "Exclusive-Binance moved 6 million for seized crypto exchange Bitzlato, data show") said on Saturday it has launched a strategic review of its global assets and is preparing for the sale or reorganization of some businesses. A hearing on FTX’s so-called first-day motions is set for Tuesday morning before a U.S. [bankruptcy judge](https://www.financedigest.com/ftx-u-s-judge-expresses-doubts-about-parallel-bahamian-bankruptcy.html "FTX U.S. judge expresses doubts about parallel Bahamian bankruptcy"), according to a separate court filing.

(Reporting by Juby Babu in Bengaluru and Mike Spector in New York; Editing by Angus MacSwan and Daniel Wallis)


---
This blog is powered by Superblog. Visit https://superblog.ai to know more.
---