Due to the fact that names and other identifying details were removed from the published document, little is known on who these customers may be.
The Trading LTD of FTX owes its 50 largest creditors approximately $3 bn, as shown in a court document filed on November 20. The documentation was submitted as just a part of the industry’s Chapter 11 procedures and through U.s. court of bankruptcy for the district of Delaware.
According to the petition, FTX owes the top person alone more than $226 mn, while the remaining debtors each owe from $21 mn and $34.7 million. It is unclear who the creditor are and where they are located.
On November 11, FTX filed for bankruptcy under 11th chapter as a result of its quick collapse. At that time, the business stated that Sam Bankman-Fried, the previous CEO, had left the business and been replaced by John J. Ray III as CEO, who would manage operations.
FTX Has Filed Bankruptcy:
A document has explained that The 50 best investors of FTX’s list is based on data about the Debtors’ current creditors, including consumer data that was visible but is not now accessible. The Debtors are still looking into the amounts stated, including potential contributions that may have already been paid but haven’t yet appeared on their books and accounts. The Debtors are likewise attempting to gain complete access to client information.
Roy has also stated that The FTX Group should be given quick relief under Chapter 11 so that it has time to evaluate its condition and create a strategy to maximize recovery for shareholders. […] The FTX Group has important assets which can only be managed profitably through a planned, collaborative approach.
