The FTX fiasco has creditors across every industry and will clearly take years to unravel.
FTX Debts Revealed to Include Binance
Binance was included in the extensive creditor list for FTX filed on January 25.
The 116-page United States Bankruptcy Court documents filed in the District of Delaware revealed hundreds of thousands of entities owed money by FTX. The account list included a myriad selection of well-known financial institutions, universities, airlines, media companies, and more. Also included were other crypto exchanges like Coinbase.
FTX is currently being investigated after filing Chapter 11 bankruptcy for one of the largest financial frauds in recent memory. FTX’s new CEO, John Ray, who oversaw the fallout of the Enron collapse, declared FTX the worst corporate event he has ever encountered.
The document does not reveal the amount owed to each entity, but it will clearly take a long time to unravel the payments and debts owed to the claimants on file. The credits likely span all different sizes and touch nearly every industry.
For a full look at the creditor list, read it here.
What is Binance:
Binance positions itself as the world’s leading blockchain ecosystem and crypto-asset infrastructure provider with a financial product suite that includes the largest digital asset exchange by volume. The Binance platform aims to increase the freedom of money for users and features a comprehensive portfolio of crypto-asset products and offerings, including trading and finance, education, data and research, social good, investment and incubation, decentralization, and infrastructure solutions.
Where to find Binance:
Source : bsc.news