FTX Owes Its Top 50 Creditors almost $3,1 Billion

Cryptoexchange FTX with 101 of its 130 affiliates has announced the launch of a strategic review of its global assets to maximise recoverable value for stakeholders as part of the recent bankruptcy filing.

Cryptocurrency exchange said it owed its top 50 creditors almost $3,1 billion. At the same time, the exchange owed about $1,45 billion to its ten largest lenders.

FTX debtors are in talks with financial services firm Perella Weinberg Partners about various attempts to sell or reorganise. However, FTX has warned that "the engagement of PWP is subject to court approval."

CEO John J. Ray III said FTX affiliates had solvent balance sheets that could be sold or restructured to reduce losses. He stressed, however, that some subsidiaries, such as LedgerX, are excluded from the debtors in the bankruptcy filing.