Key Points:
FTX, which declared bankruptcy in November, purportedly owed billions of dollars to a number of notable corporations before its demise, according to bankruptcy court records.
Apple, Netflix, other crypto exchange platforms like Binance and Bitstamp, financial industry heavyweights Charles Schwab and JPMorgan, and Amazon, one of the world’s largest retailers, are among those firms.
Media organizations Fox Broadcasting, Fox Sports, The Wall Street Journal, Fortune, Medium.com, and CoinDesk, IT management business Cloudflare, crypto hedge fund Galaxy Digital, and different colleges, airlines, governments, US states, and US regulatory bodies are among those owed money by FTX.
The 116-page document has been purged of the identities of 9.7 million clients.
Last week, FTX CEO John J. Ray III, who took over for disgraced founder Sam Bankman-Fried, stated that he was looking into the prospect of restarting the bankrupt crypto exchange while working to restore money to the failing company’s clients and creditors.
Bankman-Fried is accused of defrauding investors and misusing client cash, and if convicted, he faces up to 100 years in jail. Bankman-Fried is suspected of illegally lending substantial sums of investor money to Alameda Research, FTX’s trading subsidiary.
Previously, Coincu report the Delaware bankruptcy court was informed on Wednesday that Sam Bankman-Fried gave his FTX cofounder Gary Wang the order to build a “secret backdoor” so his trading company Alameda could borrow $65 billion from the exchange without the consent of its clients.
The paper also revealed information on FTX’s financial status, disclosing that the ailing cryptocurrency exchange has around $5.5 billion in liquid assets, including $1.7 billion in cash and $3.5 billion in liquid crypto assets.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Thana
Coincu News
Discover the best cryptos to buy and hold today: Qubetics leads with 1000x potential, Ethereum…
With the platform facing a cracked whip, Trump Media company is expanding into new business…
Major crypto firms, including Ripple, Kraken, and Circle, are competing for spots on President-elect Donald…
Analysts highlight a breakout alert as Shiba Inu (SHIB), and Dogecoin show signs of recovery…
SEC Chair Gary Gensler will step down on January 20, 2025, coinciding with President-elect Donald…
The MicroStrategy convertible notes offering, initially set at $1.75 billion, was increased to $2.6 billion…
This website uses cookies.
