FTX says it owes more than $3 billion to creditors

The Washington Post (11/20/2022)
  • 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.