Failed cryptocurrency exchange FTX owes US$3bn
Cryptocurrency exchange FTX, which has filed for US bankruptcy court protection, said it owes its 50 biggest creditors nearly US$3.1 billion. The exchange owes about US$1.45 billion to its top ten creditors, it said in a court filing on Saturday, without naming them. FTX and its affiliates filed for bankruptcy in Delaware on November 11 in one of the highest-profile crypto blowups, leaving an estimated 1 million customers and other investors facing total losses in the billions of dollars. The crypto exchange said on Saturday it has launched a strategic review of its global assets and is preparing for the sale or reorganisation of some businesses. A hearing on FTX's so-called first-day motions is set for Tuesday morning before a US bankruptcy judge, according to a separate court filing. (Reuters)