<

IRS Files $44 Billion Claim Against Collapsed Cryptocurrency Exchange FTX

In a recent development, the United States Internal Revenue Service (IRS) has filed 45 claims worth a staggering $44 billion against FTX, the collapsed cryptocurrency exchange platform. The claims also extend to FTX’s partner companies, including Ledger Holdings Inc., Pioneer Street Inc., Blockfolio Inc., West Realm Shires, Paper Bird Inc., and more.

The largest claims, however, are held by Alameda Research Holdings Inc. and Alameda Research LLC, with claims worth $20.4 billion and $7.9 billion, respectively.

According to reports, the IRS filing includes a total of $9.5 billion in withheld income and payroll taxes. Meanwhile, the claims made by other creditors are not considered a priority in comparison to the claims made by the IRS.

While the IRS has not made any official statement on the matter, one of its spokespeople has said that “Federal law prevents the IRS from confirming or denying any correspondence with regard to any taxpayer case.”

This news comes at a time when FTX has rebranded its token from FTX to FTT. However, this move has not generated a positive impact, and the ecosystem is facing a bearish growth. The U.S. Securities and Exchange Commission (SEC) has given the name ‘FTT’ to FTX, adding it to the list of 76 illegal cryptos that are unregistered. This means that FTT will not be processed under American financial law anymore.

The inclusion of FTT in the list could affect XRP’s price in a clash with the lawsuit. It remains to be seen how this latest development will impact the cryptocurrency market and whether FTX will be able to recover from this setback.

Read more:

Join us on Telegram

Follow us on Twitter

Follow us on Facebook

Follow us on Reddit

You might also like

LATEST NEWS

LASTEST NEWS