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Crypto crash: FTX exchange owes its 50 biggest creditors $3.1bn; Bitcoin trades below $16K

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Crypto crash: FTX exchange owes its 50 biggest creditors $3.1bn; Bitcoin trades below $16K

Sam Bankman-Fried’s bankrupt FTX crypto exchange owes its 50 top unsecured creditors a total of $3.1 billion. FTX Trading Ltd. and about 100 affiliated companies are starting a strategic review of global assets. Crypto markets are on the back foot, holding Sunday losses that have pushed Bitcoin — the largest token — to about $16,000. Second-ranked Ether is also struggling amid indications that some of the $663 million drained from FTX as it slid into bankruptcy is now being transferred out of the token.

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Source: Crypto crash: FTX exchange owes its 50 biggest creditors $3.1bn; Bitcoin trades below $16K

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