FTX and its affiliates owe their 50 largest creditors about $3.1 billion

Collapsed cryptocurrency exchange FTX Trading Ltd. and its affiliates owe their 50 largest creditors about $3.1 billion, according to Forkast’s calculation based on the estimates listed in a bankruptcy filing FTX submitted on Saturday. The creditors were not named.

FTX's bankruptcy filing

Screenshot of FTX’s Nov. 19 bankruptcy filing

FTX owes US$3.1 billion to top 50 unnamed creditors

The document, filed to the U.S. Bankruptcy Court for the District of Delaware, showed that the top three creditors are owed well more than half a billion dollars, with the largest at $226.3 million in unsecured claims, followed by $203.3 million for the second and $174.3 million for the third.

FTX said in the filing that the top 50 list was put together based on the exchange’s currently available creditor information, including “customer information that was able to be viewed but is not otherwise accessible at this time”.

“The Debtors’ investigation continues regarding amounts listed, including payments that may have been made but are not yet reflected on the Debtors’ books and records,” FTX wrote in the filing, adding that the list may be updated if additional information becomes available.

Last week, FTX said in a bankruptcy filing that it has more than 100,000 creditors, which could exceed one million. On Nov. 11, FTX filed for Chapter 11 bankruptcy in the U.S., sending shockwaves through the industry as what was once the world’s second-largest crypto exchange valued at more than US$30 billion imploded in little more than a week.

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