Bankrupt cryptocurrency exchange FTX owes about $3.1 billion to top 50 creditors

Cryptocurrency exchange FTX has filed for US bankruptcy court protection saying it owes its 50 largest creditors nearly $3.1 billion, news agency reports. Reuters on November 20th.

Earlier on November 19, the bankrupt crypto exchange in a court filing said that it owes the top 10 creditors about $1.45 billion, though they did not name it.

FTX and its affiliates filed for bankruptcy on November 11 in Delaware of the United States. It is considered to be one of the most famous crypto explosions that have left around 1 million customers and other investors facing billions of dollars in total losses.

ALSO READ: Investor who studied cryptocurrencies for years, then missed FTX’s danger warnings

On Saturday, FTX said it had launched a strategic review of its global assets and was preparing for the sale or reorganization of several businesses.

Meanwhile, another Bloomberg report said that FTX Europe had unsuccessfully applied for a trading license in Switzerland.

Based in Pfäffikon near Zurich, FTX Europe applied to Swiss banking regulator Finma for a license for a so-called “organized trading system” but was recently rejected.

With Finma declining to comment and unable to contact FTX Europe as it is now down, the reason for the application’s failure remains unknown.

With agent input.

This is a breaking story, it will be updated shortly.

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