According to a Saturday court filing, FTX owes more than $3 billion to its largest creditor.
The exchange was worth $32 billion when it filed for Chapter 11 on November 11. Sam Bankman- Fried resigned as CEO.
Fifty of FTX's largest creditor are customers. According to Saturday's filing, the biggest creditor is owed more than $225 million. The second largest creditor is owed over 200 million dollars. FTX owes over a billion dollars to its top 10 creditor.
FTX said last week that it may have more than one million debts.
John J. Ray, the new CEO of FTX, said he had never seen such a complete failure of corporate controls.
FTX said in a press release on Saturday that it was launching a strategic review of its global assets and was preparing for the sale or reorganization of some of its businesses.
"I have instructed the team at the FTX Debtors to prioritize the preservation of franchise value as best we can in these difficult circumstances," Ray stated in the Saturday press release.
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