FTX.com exchange owed customers $8.7 billion, debtors say
The now defunct FTX.com crypto exchange owed customers about $8.7 billion, debtors said in report released Monday, accusing previous management at the company of comingling and misusing customer deposits.
“The image that the FTX Group sought to portray as the customer-focused leader of the digital age was a mirage,” CEO and Chief Restructuring Officer John J. Ray III said in a statement. “From the inception of the FTX.com exchange, the FTX Group commingled customer deposits and corporate funds, and misused them with abandon at the direction and by the design of previous senior executives.”
A review by debtors is ongoing, and the report is part of a series regarding issues that preceded the company’s bankruptcy filing.