FTX owes more than $3 billion to its 50 largest creditors

The bankrupt FTX crypto exchange owes more than $3 billion to its 50 largest creditors. This is stated in the documents published as part of the bankruptcy procedure of the exchange on Saturday.

FTX's debt to the largest creditor exceeds $225 million. In front of the 10 largest creditors, it totals about $1.45 billion, and in front of 50 – almost $3.1 billion.

The document notes that the established rules of the bankruptcy procedure presuppose the publication of the largest unsecured claims. The names of creditors are not mentioned in it. It is also noted that the amounts of claims may change during further investigation.

"The list of the 50 largest creditors is based on the information currently available to debtors, including information about customers that could be viewed, but which is currently unavailable otherwise," the statement said. "An investigation is ongoing into the amounts claimed, including payments that could have been made but are not reflected in the debtors' accounting records."

Earlier it was reported that the total number of FTX creditors may exceed one million.

FTX initiated bankruptcy proceedings a week and a half ago. The company has taken advantage of Chapter 11 of the U.S. Bankruptcy Code, which allows it to continue operating while it develops a debt repayment plan. According to the Financial Times, on the eve of bankruptcy, FTX had liquid assets of only $900 million with liabilities of $8.9 billion.