Crypto exchange FTX said it expects to negotiate U.S. government claims in its bankruptcy down to $3 billion to $5 billion, leaving no money for shareholders...
NEW YORK - Crypto exchange FTX said it expects to negotiate U.S. government claims in its bankruptcy down to $3 billion to $5 billion, leaving no money for shareholders and contradicting a "reckless and false" claim by founder Sam Bankman-Fried that FTX's collapse caused no harm.
FTX estimates that it will have $13.7 billion in assets to pay $31.4 billion in legitimate claims, including $9.2 billion in customer claims and $17 billion in claims asserted by the U.S. Commodity Futures Trading Commission and the Internal Revenue Service. If the government does not agree to prioritize FTX customers, its claims could significantly dilute the amount available to repay customers, FTX said.
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