- Crypto-brokerage FTX’s recent bankruptcy filing (Delaware) revealed it owes creditors at least $3.1B.
- While the creditors remain unnamed, ten (10) are owed at least $100M; the largest is owed $226M.
- While led by co-founder and former CEO Sam Bankman-Fried (pictured), FTX achieved a peak valuation of $32B and raised over $2B in venture capital.
- Newly-appointed CEO John Ray (oversaw Enron during its bankruptcy) said FTX lacked basic internal controls and plans to repay creditors by selling off FTX’s assets and viable subsidiaries.
FTX says it owes more than $3 billion to creditors
(11/20/2022)