Sam Bankman-Fried’s businesses owe more than $3bn to their largest creditors, according to court filings, as the cryptocurrency group’s huge bankruptcy process gets under way.
The crypto exchange FTX and linked companies founded by Bankman-Fried filed a list of their 50 largest creditors on Sunday, all of which are customers and two of which are owed more than $200mn. The companies’ total liabilities are estimated at more than $10bn, according to earlier filings, and it may have more than 1mn creditors.
Publication of the list as part of Chapter 11 bankruptcy proceedings in Delaware had been delayed as bankruptcy practitioners struggled to locate reliable records at FTX group, which collapsed earlier this month after a liquidity crisis and accusations it mishandled client funds.